NIKE, Inc. (NKE)'s "Gonna Have To Cut Prices Again," Says Jim Cramer

We recently published 12 Stocks Jim Cramer Talked About. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.

NIKE, Inc. (NYSE:NKE) is a popular athletic apparel retailer whose shares have gained a modest 2.3% year-to-date. The firm is currently in the midst of a turnaround effort under its CEO, Elliott Hill. Despite the fact that NIKE, Inc. (NYSE:NKE)’s share performance has remained weak, Cramer has defended Hill against his detractors and asserted that the CEO is making all the right moves. He also believes that NIKE, Inc. (NYSE:NKE)’s turnaround will unfold over the long term instead of yielding short-term results. This time, he remarked that the firm would have to reduce prices to generate sales:

“Look Nike’s gonna have to cut prices again.”

Previously, Cramer discussed NIKE, Inc. (NYSE:NKE)’s turnaround efforts:

“I think Nike’s going to be a long-term turn. I think that there was a lot of damage done, and a lot of the competitors came in and really like On, and we know that New Balance got strong and HOKA got strong. So it’s going to, there’s more competition. It’s going to take a little longer than expected, but ultimately, I think that Elliot Hill is making all the right moves, and you will be fine.”

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Disclosure: None. This article is originally published at Insider Monkey.