Jim Cramer Highlights Nike Struggles

NIKE, Inc. (NYSE:NKE) is one of the tech and consumer sector stocks that Jim Cramer talked about. Cramer mentioned the stock while discussing consumer trends, as he said:

“If the Fed cuts rates, the consumer should spend even more, hence why so many consumer stocks have been roaring since last week’s Fed meeting. Of course, you got to ask yourself if the move is sustainable. I don’t know. Tonight, Nike looks terrible, but that could be, a lot of that is China. I think that the trend of lower prices, though, is just starting.”

NIKE, Inc. (NYSE:NKE) is an athletic and casual footwear, apparel, equipment, and accessories company that sells its products under brands, including Nike, Jordan, and Converse. During the December 12 episode, Cramer said that he is worried about the company’s “old inventory,” as he remarked:

“Next up, I like Thursday… After the close is the biggest night of the week when CNBC Investing Club position, Nike reports, and FedEx also issues its quarterly numbers. Now, I told people listening to the club call today that I think it’s still too soon to make a big swing at Nike. I’m not doing that yet because the company was so messed up, much more than we thought before Elliott Hill came in, the new CEO, that was a year ago. But it’s been that tough to turn around. I do like that we have the World Cup next year. A good showcase ahead. But it’s the old inventory that I worry about.”

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