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Superbowl and Winter Olympics spur Nike stock

By FashionUnited

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After five consecutive days of declines, two of the three major indexes in the US

were trading upwards Tuesday, with the Dow Jones Industrial Average up 74 points, or 0.47 percent, the S&P 500 is higher by 0.44 percent, and the Nasdaq gaining 0.01 percent in midday trading.


Five days ahead the Super Bowl XLVIII and ten days to the Winter Olympics kick off in Russia, shares of Nike added more than 1 percent. According to 'Daily Finance', "Wall Street already expects the company to produce higher numbers during the quarter following these events, but investors certainly have the confidence today that Nike can match if not beat those expectations."

In the Americas, Chico's FAS has set a foot in Mexico, pinning its international footprint in the neighbour country. "We believe Mexico is a great first foray into the international arena for the Chico's brand. It represents an important part of the overall global expansion of Chico's FAS, Inc.," said Bill Bine, Chico's Vice President, International Operations. "We are excited to announce our partnership with Liverpool. Their experience and understanding of the customer in the Mexican market, combined with the strength of the Chico's brand creates a tremendous opportunity for international growth."

Across the Atlantic, in London, the City set sight on Asos and Mulberry. The former has recently gone a stock price roller coaster after various downgrades. However, the online fashion retailer noted down a 38 percent rise in total revenue to 335.6 million pounds in the four months to 31 December 2013, driven by strong Christmas and holiday season sales.

On Tuesday, the stock had its "sell" rating restated by investment analysts at Liberum Capital in a note issued to investors on Tuesday, American Banking & Market News reports. Shares opened at 5,955 pence, compared to a 52 week low of 2,511 pence and a 52 week high of 7,100 pence.



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