“It’s an event that can really change things. Their future orders in Europe were up 10 percent last quarter,” he added.
The past five Olympics have each provided a 24.5 percent boost to Nike’s stock on average, according to Barclays.
“In many Olympics, they set up new ideas and technologies, which have grown tremendously in the years following, such as the ‘Lunar series’ — now a $2 billion retail platform of athletic shoes,” he said.
Lunar products were launched during the Beijing Olympics in 2008.
Thus, despite what looks like an economic contraction in Europe, Poser remains bullish: “Overtime, we still think the margins will come back, and I wouldn't be surprised to see them significantly better in fiscal 2013.”
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Sam Poser does not personally own NKE shares, but Sterne Agee makes a market (matches buyers and sellers) of the stock.
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