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Nike (NKE), the world’s largest apparel company and America’s leading Sportswear brand, held its long-standing number-one position throughout 2017. “Nike [is] still struggling in performance and they have the most to give up,” said NPD Group’s Matt Powell. Nike’s North America sales contracted 4.5% YoY (year-over-year) during the second quarter of 2018, although the company’s total sales improved 4.6% during the quarter.
As we discussed in the previous part of this series, the Germany-based Adidas (ADDYY) and Puma are giving a tough time to US sportswear companies on their home turf. Adidas, in fact, overtook Nike’s (NKE) Jordon Brand in 2017 to acquire the number-two position in the US sneaker market. The footwear giant is now targeting expansion of its US market share from the current 10% to 15%–20%.
It feels like the worst is over for Foot Locker, Inc. (NYSE:FL). Foot Locker stock fell 34% in 2017, with the declines in FL stock catalyzed by major plunges after first-quarter results in May and Q2 results three months later. Retail stocks as a whole have rallied, including mall retailers like Foot Locker.
As discussed, Wedbush analyst Christopher Svezia upgraded Nike (NKE) from “neutral” to “outperform” on January 18, 2018. The revised price target reflects an upside of 10% based on its January 18 price.
I’ve been harping on Under Armour Inc (NYSE:UAA) and its problems for quite some time. I’m not trying to be rude. It’s difficult running a business. However, part of my job is warning investors away from troublesome stocks that will cause them to lose capital. UAA stock is the perfect example, and it’s also a perfect example of why I always avoid retail clothing stocks.Translation of UAA’s Latest Earnings Call
Trimming the amount of leather it discards to landfills can shave as much as 40% off Nike's material waste, Macquarie analysts say.