Thanks Pam and happy holidays everybody. It was about a year ago I told you that Nike would perform well in this challenging economy and expand our lead over our competitors by doing what we do best and that’s delivering superior innovative product, connecting with our consumers, creating compelling marketplace experiences, and operating with discipline and efficiency.As our performance over the last year clearly indicates we’re executing these strategies and winning in the marketplace. We continue to lead the industry in footwear and apparel product innovation, and we‘re doing that across multiple categories and geographies and up and down the price spectrum.Our portfolio of global brands has deepened our personal connections with consumers. We continue to create compelling marketplace experiences with our retail partners in Nike owned retail stores, and online.
Rangeley Capital’s portfolio managers Andrew Walker and Chris DeMuth Jr host a fifteen-minute podcast, which you can subscribe to on iTunes, Stitcher, or audioBoom. If you missed the previous episode, then please check out Happy Repeal Day.Nike (NYSE:NKE) has been racing ahead of Under Armour (NYSE:UA). In the current episode, we start with the prospects for a turnaround, including Under Armour’s new deal with Major League Baseball as well as a resolution of its complex share structure. Then we turn to government spending at the Pentagon and on Air Force One (NYSE:BA) as well as Twitter (NYSE:TWTR) as a tool for governing as well as campaigning.If you have feedback, please email it to firstname.lastname@example.org.
Disclosure: I am/we are long UA.C.I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Additional disclosure: Chris DeMuth Jr and Andrew Walker are portfolio managers at Rangeley Capital. We invest with a margin of safety by buying securities at discounts to their intrinsic value and unlocking that value through corporate events. To maximize returns for our investors, we reserve the right to make investment decisions regarding any security without notification except where notification is required by law.