Nike Inc (NYSE:NKE) stock was quick out of the blocks on Friday, boosted by the news that its sneakers will be sold online via Amazon.
It comes after investors were impressed with fourth quarter results, released on Thursday, which showed US$1.01bn of income, up from US$846mln, beating expectations.
Chief executive Mark Porter then confirmed, during an analyst call, that a limited ‘product assortment’ – comprising footwear, apparel, and accessories – would be sold on Amazon as the sportwear giant seeks to ramp-up its e-commerce operations.
The idea is to enhance Nike’s direct e-commerce presence to take back market share from third-party sellers and counterfeiters.
In Friday’s pre-market deals, Nike was up US$2.83, 5.32%, changing hands at US$53.17.