Executive SummaryNike Inc. (NYSE:NKE) has a history of beating the earnings estimates. We recommend a long position on the stock,
Nike Free Run 10o Aniversary azul claro púrpura Mujeres Ahorre Un 80%,
Mujeres Free Run 4.0 V2 Ultrapurple Reflexionar Plata lobo gris Nike 2015 Nueva Llegada Del Envío Libre, mainly due to the following reasons:

Nike’s earnings have grown at a CAGR of 20% since FY09. Moreover,
2012 Nike Free Run 3.0 Gris rose Femmes Pour Pas Cher Mais De Véritables Hommes Chaussures De Course,
2013 Nike Free Run Powerlines Ejército reverdecido Hombres Con El Envío Gratis Para Todos Los Pedidos, earnings increased by 7% in 3Q2012,
2013 Nike Free Run Powerlines 2012 Gris Azul Hombres Hombres y Mujeres, as an increase in revenues more than offset the slight decline in gross margins. The company has seen an increase in its profits in each of the last three quarters. NKE has consistently shown impressive revenue growth; growing by 15% in the third quarter as compared to 3Q2011. NKE experienced growth worldwide,
Nike Roshe Run Hyp Qs Aliceblue Navy Hombres Una Semana Llegue a Su Puerta y Super Servicio Al Cliente, driven by its brand strength and innovative products. Footwear remains the major contributor to revenue growth. Nike’s biggest growth opportunity is in emerging markets,
Nike Free Run 4.0 V3 Azul Gris Mujeres Hombres Compra Ya Save Off 40% -60%, especially China,
Nike Free Run 5.0 V3 2014 Plum mujeres rojas Una Semana Llegue a Su Puerta y Super Servicio Al Cliente, where it boosted a 25% YoY increase in revenues in the third quarter. The growth was driven by increased demand of its footwear. The company offers products in the categories of running,
Nike Roshe PRM Men Anthracite Grey Blue Glow Sail White From Our Store You Can Enjoy Fast Free Shipping,
Women Nike Free Run 2 Shield Stealth Black Yellow Grey Quilted 100 Quality Assurance And Free Shipping, training,
Nike Roshe Run Wmns Sherpa altos melocotón rosado Mujeres 100% De Garantía De Calidad y El Envío Libre, basketball,
Nike Roshe Run Mediados Negro Rojo deportivo Hombres Ahorra Hasta Un 65% De Descuento y Envío Gratis,
Nike Roshe Run mediana Negro Volt Hombres Entrega Rápida y Buen Clientes Servicios Están Garantizados, soccer,
Nike Free Run 2 2012 Rose Blanc Femmes Boutique En Ligne Clearancesale 2014. Obtenez 85% De Réduction,
Nike Free Run 5.0 V4 2012 Gris Mujeres rojas Ahorre Dinero En Millones De Top Productos a Bajo Precio, sport inspired casual shoes,
Nike Free Run 5.0 V3 2014 Orange Mujeres Son Venta Caliente. Bienvenido a 2015 Zapatos Outlet Store, and children’s shoes. The company sells its products through retail accounts,
Nike Roshe Run Dyn Fw carbono Cyan Blanco Mujeres Hombres Tienda Es El Mejor Lugar Para Que Usted Compre, its own retail and online stores,
Nike Free Run 2 Orange Yellow Mujeres Tienda Online Venta Liquidación 2014, independent distributors,
Uomini Nike Free Run 5.0 Black Olive Volt 2015 delle donne scarpa da running At The Official Store, and licensees. NKE experienced worldwide growth,
2012 Nike Free Run 3 Pinke plata Mujeres Son Venta Caliente. Bienvenido a 2015 Zapatos Outlet Store, driven by NKE’s brand strength and innovative products. If we look at the company’s annual results,
Nike Free Run 2 Gris Blanc Bleu Royal Boutique En Ligne Clearancesale 2014. Obtenez 85% De Réduction,
Nike Free Run 5.0 azul marino Gris Mujeres Tienda Está Especializada En La Venta De Todo Tipo De Zapatos, NKE has been consistently posting high gross over the years (averaging 45% since FY09),
Women Nike Free Run 2 Stealth Black White High Quality With The Best Price Fast Order And Fast Delivery, ranking above Footlocker (NYSE:FL) and Finish Line (NASDAQ:FINL). The table below gives the breakup of NKE’S revenues from different segments,
Nike Free Run 5.0 Negro Gris Rosa Mujeres Entrega Rápida y Buen Clientes Servicios Están Garantizados, and shows high double digit growth of 3Q2012.

Footwear was among NKE’s major contributors to revenue growth,
Mujeres Nike Free Run 3 Light Bone Vivid Naranja Hasta 50% De Descuento. Envío Gratis Para Todo El Mundo,
Nike Free Run Powerlines Ii Negro Verde Hombres Comercio Al Por Mayor Price.Fast Entrega, increasing by almost 20%,
2012 Nike Free Run 2 Gris Rosa Mujeres Ahorra Hasta Un 65% Al Hacer Compras En Nuestro Outlet Store, largely due to growth in running ,
Nike Free Run Powerlines arco iris púrpura Mujeres 2014 Con La Entrega Rápida y Servicio Post-Venta, sportswear and basketball products. Looking at the geographic centric data,
Nike Free Run 5.0 Negro Gris Rosa Mujeres Tienda Está Especializada En La Venta De Todo Tipo De Zapatos, NKE’s North American division provided the major chunk of revenues,
2012 Nike Free Run 2 Gris Rosa Mujeres Ahorrar Hasta Un 79%, with China outperforming all other regions in terms of growth. This growth was possible due to continued expansion in the number of NIKE branded stores,
Nike Free Run 3.0 V5 Ext Fuego Rojo Blanco Mujeres Con El 100% De Garantía De Calidad y Envío Libre, owned by its wholesale customers,
2012 Nike Free Run 2 Mujeres Gris Rosa Envío Rápido, and higher comparable store sales.

Earnings Announcement: NKE is to announce its earnings for 4Q2012 on June 28. Revenue is estimated to be at $6.52 billion for the quarter,
Nike Roshe Run Mediados Castaños Oscuro Negro Hombres 2014 Con La Entrega Rápida y Servicio Post-Venta,
2012 Nike Free Run 2 Negro Púrpura Mujeres Son Venta Caliente. Bienvenido a 2015 Zapatos Outlet Store, which shows a 13.1% increase YoY. For the year,
2012 Nike Free Run 3.0 Piel Negro Púrpura Mujeres Hasta 60% De Descuento No Hay Impuestos! Envío Gratis,
Plata Nike Roshe Run Negro amarillas gorro de Mujeres Liquidación De 2014. Obtenga 85% De Descuento, revenue is projected to come in at $24.11 billion,
Nike Roshe Run Fb Yeezy Orange Leopard Mujeres Hasta 50% De Descuento. Envío Gratis Para Todo El Mundo, showing a growth of 16%,
Nike Roshe Run Fb Yeezy azul del leopardo azul Mujeres Ahorre Un 80%,
Nike Roshe Run Wmns Sherpa Alte Grigio Donne Viola Store è il posto migliore per voi di acquistare, which is significantly higher than last year’s 10%. The company has a history of beating the consensus estimates for revenues.

Earnings Analysis: NKE’s earnings have grown at a CAGR of 20% since FY09. Moreover,
2013 Nike Free Run 5.0 Olímpico Naranja Gris Mujeres El Precio Bajo, earnings increased by 7% in 3Q2012,
Nike Roshe Run Cuero Azul Amarillo Plata Mujeres Hombres Liquidación De 2014. Obtenga 64% De Descuento, as an increase in revenues more than offset the slight decline in gross margins. The company has seen an increase in its profits in each of the last three quarters. It is clear from the table below that the company’s diluted earnings per share grew faster than its earnings. This growth was due to a decline in the number of outstanding shares from the company’s share repurchase program.

Historically Beaten Earnings Estimates: The company has historically beaten analysts’ earnings estimates,
136065 101 Air Jordan 1 Retro White Silver Navy Fast Shipping 100 Original Welcome To Choose Your Style, and provided healthy earnings surprises (earnings surprise of 12% in 1Q2011). NKE is expected to report earnings of $1.37,
Nike Free Run Powerlines Ii Azul Blanco Hombres Comercio Al Por Mayor Price.Fast Entrega, an increase of almost 10% from the previous year’s $1.24,
Nike Free Run Powerlines Ii Negro Verde Mujeres En Línea Con El Descuento Más Grande y El Envío Libre, on June 28,
Nike Roshe Run Olímpicos de Londres Anti-pieles bajo Verde Oscuro Hombres Bueno Guality Y Media Precio,
Women Nike Free Run 2 Anthracite Grey White Black Yellow Outletonline Store Is The Ideal Option For You, 2012. For the current financial year,
Nike Roshe Run gris rose Mesh Femmes Achetez Plus Sauvegarder Plus, analysts agree on an EPS of 4.93%,
2012 Nike Free Run 5.0 V3 Rojo Plata Mujeres Venta Worldwide Con Descuento Grande Y Entrega Libre Rápido, which if reported,
Nike Free Run 4.0 Anti Fur Cielo Blu Uomo Bianco Negozio online Clearancesale 2014. Get 85% di sconto, would be an increase of 12% from the previous year.

Stock Performance: Even though the stock lost almost 10% of its value between April and June this year,
Nike Free Run 5.0 V3 gris púrpura Mujeres Tienda Online Clearancesale 2014. Consigue 85% De Descuento, it has outperformed its peers over a period of one year,
2014 Nike Free Run Gimnasio Blancas Mujeres Negras 2014 Nuevo Estilo, as seen in the graph below.

Growth in the Future: Nike’s biggest growth opportunity is in emerging markets,
Nike Roshe Run Cuero Azul Amarillo Plata Mujeres Hombres Garden Fresh Produce Hasta 50% De Descuento, especially China,
2012 Nike Free Run 3.0 V3 Verde Giallo Uomini Negozio online Clearancesale 2014. Get 85% di sconto, where it boosted a 25% increase in revenues in the third quarter YoY. This increase was largely driven by an increase in demand for its footwear. Moreover,
Wmns Nike Free Run 3.0 V5 2014 Gris Naranja Mujeres Usted Puede Disfrutar Del Envío Rápido Gratuito, the future orders for NKE’s footwear scheduled for delivery from March through July 2012 are 25% higher in China than the orders reported for the comparable prior year period,
Nike Free Run 2 Antracita Negro Blanco púrpura acolchado Garden Fresh Produce Hasta 50% De Descuento, which also ranks above its demand from North America.

Balance Sheet Analysis: The company has a cash balance of almost $3 billion as of the most recent quarter,
Nike Run Balanza gratuito 2014 Gris Rosa Mujeres Compre Más Ahorre Más, and cash flows from operations have largely been consistent year on year. The level of debt is reasonable,
Nike Roshe Run Hyp Mujeres Navy Gris oscuro Son Venta Caliente. Bienvenido a 2015 Zapatos Outlet Store, with debt to equity of 4% and a very healthy looking interest coverage ratio. NKE’s current ratio is 3.21,
Nike Roshe Run Dyn Fw Mujeres Hombres Gris Lightcyan Hombres y Mujeres,
Nike Free Run 5.0 Negro Gris Rosa Mujeres Compra Ya Save Off 40% -60%, which is considerably higher than the industry average of 0.80.

Valuation: The company’s P/E of 16x is trading at a premium to the industry as well as its 5 yr historic average; however,
Nike Free Run Powerlines Ii Verde Negro Hombres En Línea Con El Descuento Más Grande y El Envío Libre, the growth prospects are strong enough to justify a premium valuation.

Recommendation: NKE has performed well in terms of revenue and earnings growth,
Nike Free Run 2 Bleu Jaune Femmes Économisez De l’Argent Sur Des Millions De Top Produits à Bas Prix, and has historically beaten the earnings estimates. It has a strong balance sheet and with growth prospects in countries like China,
Nike Free Run 5.0 Tr Pink Mujeres Negras Tienda Está Especializada En La Venta De Todo Tipo De Zapatos, the company is likely to do well going forward. Therefore,
Nike Free Run 3.0 V7 ​​Cielo Azul Naranja mujeres negras Garden Fresh Produce Hasta 50% De Descuento, we recommend a long position on the stock.

Investors can short sell the Consumer Retail ETF (NYSEARCA:XLY) to hedge against the long position in NKE. The company operates in two segments,
Wmns Nike Free Run 3.0 V5 2014 Orange Mujeres Compra Ya Save Off 40% -60%,
Nike Free Run 3.0 V2 Blanco Rosa Mujeres Compra Ya Save Off 40% -60%, Athletic Stores and Direct to Customers. The Athletic Stores segment retails athletic footwear,
Nike Roshe Run Mujeres Hombres Gris malla amarilla Deseo Usted Tiene Buenas Compras Del Tiempo Aquí, apparels,
Nike Roshe Run edad Mujeres Hombres Negro Metalizado Plata Amarillo Ahorre Hasta Un 70% De Descuento,
Nike Run Roshe Ejército Verde Blanco Hombres Entrega Rápida y Buen Clientes Servicios Están Garantizados, accessories,
Nike Free Run 3.0 Lana Inverno Pelle 2013 Giallo Grigio Men Si può godere il trasporto libero veloce, and equipment under various formats. The company has shown impressive growth in margins,
Nike Free Run 5.0 azul marino Gris Mujeres Zapatos Para Usted Con El Envío Rápido y Gratuito a Su Hogar,
Mujeres Nike Free Run 3 Grainte Fireberry Vela Frbrry 2014 Nuevo Estilo, both on a quarterly and an annual basis. In the recent quarter ended April,
Mujeres Free Run 3 Prisma reflexiva azul de plata Pure Platinum Volt Con Alta Calidad y Entrega Rápida,
2012 Nike Free Run 2.0 Gris Azul Blanco Mujeres En Línea Con El Descuento Más Grande y El Envío Libre, 2012,
Nike Run Balanza gratuito 2014 Mujeres Negro Rosa Comercio Al Por Mayor Price.Fast Entrega, gross margins rose to 34% from 32% YoY. FL reported earnings per share of $0.83 in 1Q2012,
Nike Roshe Run mediana Negro Volt Hombres Nuestra Perfecta Calidad y Precio Razonable Haremos Satisfecho, 38% higher than the previous year’s EPS. The company has a cash balance of almost $900 million,
Nike Roshe Run Mediados Castaños Oscuro Negro Hombres Venga a Unirse a Nosotros Lo Más Pronto Posible,
2012 Nike Free Run 2 Negro Púrpura Mujeres Compra Ya Save Off 40% -60%, with not a significant amount of debt,
Nike Free 3.0 Light Bone Reflective Silver Iguana Green Men With Top Quality And Discount Price For You, currently at around $135 million,
621958 090 Air Jordan 5 Bel Air Cool Grey Court Purple Game Royal Club Pink Good Guality And Medium Price, and a reasonable debt to equity ratio of 6%

Adidas AG (OTCQX:)Adidas AG engages in designing,
2012 Nike Free Run 3.0 V2 Blanco Gris mujeres rojas Compre Más Ahorre Más, developing,
Nike Free Run Powerlines Rainbow Pink Mujeres Aquí Se Puede Elegir Lo Que Quieras Al Precio Más Bajo, producing,
Nike Free Run Powerlines Ii Negro Blanco Verde Mujeres Nuestro Precio Es Muy Favorable, and marketing a range of athletic and sports lifestyle products worldwide. It offers footwear,
Nike Roshe Run mediana Rojo deportivo Blanco Mujeres Deseo Usted Tiene Buenas Compras Del Tiempo Aquí, apparels,
Nike Roshe Run charbon Noir Rouge Argent Hommes Avec La Qualité,
Nike Free Run 2 2, and hardware such as bags and balls,
Nike Roshe Run Mediados Negro metálico de plata amarillas Mujeres Hombres Venta Hombres Running Zapatos, primarily under the Adidas and Reebok brands. The company operates in six segments: Wholesale,
Nike Roshe Run Lizards Brown Black White Sails Quilted Shoes 2015 Online Sale! 40 80 Off! Free Shipping, Retail,
Nike Free Run 3.0 V4 Rojo Púrpura Mujeres Ahorrar Hasta Un 79%,
Nike Free Run 4.0 V3 Grigio Chiaro Blu Uomo 2015 delle donne scarpa da running At The Official Store, TaylorMade Adidas Golf,
Nike Free Run Powerlines arco iris púrpura Hombres Con Alta Calidad, Rockport,
2012 Nike Free Run 3.0 V2 Gris Naranja Mujeres Una Semana Llegue a Su Puerta y Super Servicio Al Cliente, Reebok CCM Hockey,
Nike Roshe Run Wmns Sherpa altos grises púrpuras Mujeres Ha Sido Amplia Popular Durante Muchos Años,
Nike Free Run 5.0 V4 2012 Gris Rosa Mujeres Compra Ya Save Off 40% -60%, and Other Centrally Managed Brands. The company has total cash of almost $2 billion as of the most recent quarter,
Nike Free Run 5.0 Tr Grigio Giallo Arancione Donne Store è il posto migliore per voi di acquistare, and a relatively high debt to equity of 30%. Quarterly earnings growth of 38.30% for the company is impressive,
Nike Free Run 3.0 V4 Verde Gris Mujeres Para Baratos Pero Reales Para Hombre De Los Zapatos Corrientes, however,
Nike Run Balanza gratuito 2014 Mujeres Verde Naranja Usted Recibirá Usted Quería Aquí, the stock has underperformed when compared to NKE on a YTD basis.

Adohr Milk Cream is a US-based company famous for its gorgeous cows with their glamorous digs! Raised near Hollywood, CA…the movie capital of the World…our beautiful bovine are pampered like the stars they are. Our philosophy is “Star-quality cows make star-quality milk�?. Our premier line of milk powder baby formulas are nutritionally complete for your rising star.

In the tradition of Old Hollywood, our wholesome, nutritious and delicious newborn, infant and toddler formulas start with milk from A-List cows. The cast of nutritionists and scientists at Adohr Milk Cream have spent years researching and developing the best combination of ingredients to provide optimal nutrition.

At Adohr Milk Cream, we believe your child is the star of your life…from pregnancy through toddlerhood and beyond. Our milk powders provide 100% of the recommended daily supply of vitamins and minerals that are essential for strong teeth and bones, good skin and hair, and a healthy brain. Everything a little star needs to grow.

Since our company was founded, every product we manufacture is done so with traditional values in mind. Our old-fashioned milk powders are made in America and are FDA-approved following strict guidelines and manufacturing processes.