Nike Went Public 45 Years Ago. If You'd Put $100 Into Its IPO, Here's How Much You'd Have Today.

When Nike (NYSE: NKE) went public on Dec. 2, 1980, the athletic footwear and sports apparel company was already white-hot. In 1972, its sales were less than $2 million, but over the next nine years, they surged by an average of 85% annually. Its net income grew even faster, averaging almost 100% per year, leading management to crow in its 1981 annual report that Nike had "raced ahead of its competitors and attained its premier position in the industry."But could it sustain that momentum? The shoe business is competitive enough that even legendary investor Warren Buffett has been burned by it: The Oracle of Omaha once called his $443 million investment in Dexter Shoe Company the "most gruesome mistake" of his career. Buffett's stumble highlights how hard it can be to discern which consumer products businesses have genuine moats and which don't.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool