Conference Call TOMORROW, Friday February 26th. 11 a.m. EST
We've been vocal over the last year about warming up to Nike as a key idea for 2010. Specifically, there are several developments masking the magnitude and duration of an earnings recovery.
Since we announced this conference call last week, Nike is now seeing an intermediate term TREND (3 months or more) breakout at $64.18, not to mention Goldman Sachs playing follow-the-Hedgeye and adding NKE to their sooper-dooper conviction buy list this morning.
We'll be releasing a Black Book and hosting a conference call for subscribers of Hedgeye's Institutional Retail vertical -- and for qualified prospective institutional subscribers -- tomorrow, Friday February 26, at 11 a.m. EST.
We will go through why, in detail, we think Nike deserves a closer look, focusing on the severe lack of context in how actions over the past three years are coming together today to re-accelerate earnings growth, specifically:
- A strong catalyst calendar (analyst day in May, World Cup in June/July)
- Increased product flow - as a result of enhanced productivity after last year's re-organization
- Magnitude and duration of an earnings recovery - after 2 years of flattish earnings