Oil’s Plunge is Really, Really Good News for Nike, Under Armour

Cowen’s John Kernan and team argue that lower oil prices are good news for Nike (NKE), Under Armour (UA), VFC (VFC) and Hanesbrands (HBI). They explain why: Bloomberg News With oil prices down 60% y/y, lower costs of oil-based synthetic apparel and footwear should benefit athletic vendors. Fabric is roughly 40%-60% of FOB costs, with […]