Luxury goods could see biggest effects from coronavirus: Telsey CEO

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Dana Telsey, Telsey Advisory Group CEO and chief research officer, joins “Power Lunch” to discuss how retailers could feel the effects of a coronavirus slowdown. Shares of Nike are down more than 4% over the last month, but Morgan Stanley says it’s still a great time to buy. “Store closures will impact 3Q20 China sales results and may cause NKE to temper its full year revenue guidance,” the analyst warned. The firm also said the virus could impact the company’s gross margin progress, but added that any of these headwinds would be temporary. “We expect the market to look past this transitory challenge and would add to positions on any pullback,” they said. For access to live and exclusive video from CNBC subscribe to CNBC PRO:… » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBC TV

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