EXEC: Wall Street Lukewarm on Nike’s Fiscal Q1 Results

Nike’s shares rose 6.7 percent on Friday after the company reported earnings in the fiscal first quarter ended August 31 handily topped expectations on stronger-than-expected margins, but many analysts were non-plussed, remaining concerned about sluggish growth trends, particularly in the North American wholesale channel.

Studies Show Active Lifestyle Brands Resonate with Gen Alpha

In a recent survey conducted by Beano Brain, Nike ranked #4 in the Top 100 “Coolest Brands” among Gen Alpha in the U.K. and #17 in the U.S. Other vendors making the list in the active lifestyle space included Adidas, Puma, Crocs, Jordan, Under Armour, Champion, and The North Face.

EXEC: Jefferies Downgrades Nike, Foot Locker on Slowdown Concerns  

Analysts at Jefferies downgraded Nike, Foot Locker and Urban Outfitters as survey data shows the resumption of payments on student loans may force families to limit their spending on apparel and sneakers. Nike’s sales are also expected to be pressured by lean inventory disciplines across wholesale channels and macro headwinds facing China.

Dick’s to Close Nearly All Moosejaw Stores

Moosejaw, the outdoor specialty retailer acquired by Dick’s Sporting Goods in March, is closing 11 of 14 stores in a realignment of Dick’s outdoor specialty business, including the company’s Public Lands’ store concept. Moosejaw’s headquartered in Madison Heights, MI, is also closing.

EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand

Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report.  Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.

EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike

In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure.