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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。