The issue of economic recovery — when it will happen and in what form — is on the minds of many.
Economists have discussed “u” or “v” shaped patterns, which indicate the depth and length of both the process. There has also been lesser-known talk of a “swoosh-shaped” recovery, indicating a longer and more gradual way out of the recession.
During Nike Inc.’s fiscal fourth-quarter call with investors, Nike CEO Mark Parker said a recovery which happens to mimic his company’s logo may already be underway. He added that Nike is poised to benefit as the slow and gradual recovery begins. The CEO’s statement raised a few eyebrows with analysts and Parker discussed it during the company’s first-quarter call on Tuesday.
QUESTION: One for Mark — can you give us an update in terms of where you think we are on the swooshed-shaped recovery, with the results and with the futures that you reported?
RESPONSE: Yes. Okay, this is Mark. Your first question — yes, I got a lot of feedback on that swooshed-shaped recovery from the last call, and I don’t propose to be an expert in the economic recession and where we’re going. But I will say that you’ve heard this in the prepared remarks upfront; but what we’re seeing here is sequential improvements in a lot of the indicators. So we remain, as I said, very prudent in terms of managing through this time, but we see some reason to be cautiously optimistic as we move forward. So I would still say that the swoosh-shaped recovery is something that we’re looking at and believing in, you know. But again, we’re cautious and playing our role in this industry in a prudent way, but balancing that with the right amount of opportunism. And I think, hopefully, that came through loud and clear in our remarks.
