Jim Cramer on Nike: "Company's Being Reinvented By a New CEO"

NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer shared his take on. Cramer noted that the company’s new CEO is someone he respects. He stated:

“Tuesday night, we hear from the most important company of the week, and that’s Nike. This company’s being reinvented by a new CEO and old Nike hand, Elliott Hill, whom I’ve met and I respect. I don’t know if this will be the breakout quarter, but there will be a breakout for Nike, and you have to buy it ahead of that, as I’ve told members of the CNBC Investing Club.”

NIKE, Inc. (NYSE:NKE) designs, develops, and markets athletic and casual footwear, apparel, equipment, and accessories under brands like NIKE, Jordan, and Converse. When a caller inquired about the company during a July episode, Cramer replied:

“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.