Nike Shares Hit Record High

This past Thursday, Nike (Portland, Ore.) released its sales reports, which landed higher analysts expected, and said it was beginning a four-year, $15 billion share repurchase program.

Upon the announcement, its shares jumped 12 percent on Friday, June 29, 2018, to $80.66 per share. The retailer also said its online business has been thriving upon a “return to growth in North America.” Its online sales were up 41 percent during the quarter, according to CNBC.

"Fueled by a complete digital transformation of our company end-to-end, this year set the foundation for Nike's next wave of long-term, sustainable growth and profitability," said CEO Mark Parker in a statement. The brand credits its success for increasing its direct-to-consumer sales strategy, partnering with Amazon.com Inc. (Seattle) and San Francisco-based subscription service Stitch Fix.