1000 GMT - Nike's anticipated decline in sales is largely attributed to company-specific challenges rather than a sudden deterioration in industry trends, UBS analysts write in a note. For its fiscal third quarter, the U.S. sportswear brand expects a decline in revenue of low double digits and a drop in gross margins of between 300 basis points and 350 basis points. Nike's planned promotional activity to clear inventory shouldn't significantly impact Adidas, as the German company has maintained greater discipline in its promotional strategies across markets, they say. As for Puma, Nike's increased marketing investments might pressure the German group to ramp up its own investments to stay competitive, UBS says. Shares in Adidas are down 0.8% at 234.20 euros, while Puma trades 0.4% lower at 44.95 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 20, 2024 05:06 ET (10:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。