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Nike (NYSE: NKE) has benefited from rising popularity and an increasing connection with consumers. This video will highlight the financial metrics that supported Nike's stock price increase. *Stock prices used were the afternoon prices of March 18, 2023.
Foot Locker's (FL) fourth-quarter fiscal 2022 results reflect comparable sales increasing 4.2% driven by traffic and access to high-quality inventory.
Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales. 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.