NIKE Dips on Layoff Plans, Can Latest Strategy Revive Stock?

Talking of the retail landscape, consumers' rapid shift toward online shopping is troubling most companies, as they are struggling to keep pace with the online players in the industry. Consequently, retailers like Macy's, Inc. M and American Eagle Outfitters Inc. AEO are concentrating on enhancing their omni-channel capabilities and optimizing store fleet.

Well, these obstacles, along with mounting competition from sporting goods big-wig Adidas AG ADDYY seemed to have influenced the aforementioned move. We believe that streamlining operations and undertaking digital endeavors should drive NIKE's performance in future, and help it gain investors' confidence.

NIKE currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

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