×
288
Fashion Jobs
PRIMARK
Business Analyst - Checkout Management Mpe
Permanent · DUBLIN
PRIMARK
Business Analyst - Checkout Management Epos
Permanent · DUBLIN
TJX EUROPE
tk Maxx - Loss Prevention Advisor (Security) - Full Time - Ilac
Permanent · Dublin
PRIMARK
Product Traceability & Sustainability Administrator
Permanent · DUBLIN
PRIMARK
Associate Product Owner, Supplier Effectiveness
Permanent · DUBLIN
PRIMARK
Product Owner, Core Retail (Finance)
Permanent · DUBLIN
PRIMARK
Finance Business Analyst
Permanent · DUBLIN
PRIMARK
Retail Construction Project Manager
Permanent · DUBLIN
PRIMARK
Security Operations Manager- Identity & Access
Permanent · DUBLIN
FRASERS GROUP
Health & Safety Manager - Europe
Permanent · DUBLIN
PRIMARK
Digital Learning Product Manager
Permanent · DUBLIN
PRIMARK
Finance Manager - Intercompany, Treasury & Hedging
Permanent · DUBLIN
PRIMARK
Security Awareness Specialist
Permanent · DUBLIN
PRIMARK
Bank & Store Reconciliations Manager
Permanent · DUBLIN
PRIMARK
Finance Manager Technical Accounting And Policy
Permanent · DUBLIN
PRIMARK
Sustainability External Affairs Manager
Permanent · DUBLIN
PRIMARK
Business Analyst - Enterprise Finance Product Area
Permanent · DUBLIN
PRIMARK
Indirect Tax Compliance Specialist
Permanent · DUBLIN
TK MAXX
tk Maxx Loss Prevention Officer, Full-Time, Dundrum
Permanent · Dublin
LEVI'S
20hr Keyholder Experience Essential
Permanent · Monasterevin
PRIMARK
Product Owner, Reporting And Tax
Permanent · DUBLIN
FOOT LOCKER
sr. Treasury Analyst - Maternity Cover
Permanent · Dublin 1
By
Reuters
Published
Mar 21, 2023
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nike sales to gain from Adidas-Kanye split, Jordan Retro demand

By
Reuters
Published
Mar 21, 2023

Nike is set report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with Kanye West that caused the German company to lose about $600 million in quarterly sales.


Nike


Nike is also expected to get a boost from higher sales of its Jordan Retros and some newer launches as the world's No. 1 sportswear maker stays ahead of rivals through its innovative product lines.

"There is an opportunity for Nike to pick more market from Adidas," said Jessica Ramirez, senior analyst at Jane Hali and Associates, adding that Adidas has not had as many bestsellers as Nike.

The context 


Adidas cut ties with West in October after his anti-semitic comments, causing the company to slash its 2022 dividend and warn of a first annual loss in three decades this year.

Nike has also doubled down on its product lines such as the LeBron 20s and Nike Mercurial shoes, while also grabbing a bigger chunk of the growing China market.

Telsey Advisory Group's Cristina Fernandez said that China is one market where Nike has significantly outperformed Adidas as it is in a much better position with inventories in the region, and has more localized products.

Still, Nike's margins are expected to be squeezed in the quarter as it continues to offer promotions and discounts to shed excess stock.

Nike will report its earnings on March 21.

© Thomson Reuters 2023 All rights reserved.