0753 ET - Nike's 4Q performance had a mostly positive read-through for Dick's Sporting Goods, D.A. Davidson's Michael Baker and Keegan Cox say in a research note. Nike's wholesale business in North America was down 8%, a narrower decline than the 9% fall Wall Street forecasted, according to the analysts. Dick's accounts for 18% of Nike's North American wholesale business, and will be closer to 36% after completing its planned acquisition of Food Locker, the analysts say. 4Q was the sixth consecutive quarter where wholesale led retail, they note. Nike also highlighted its year-over-year increase in holiday order booking, particularly mentioning success with Dick's and other retailers with stepped up in-store merchandising investments, Baker and Keegan say. Dick's Sporting Goods is up 3% premarket. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
June 27, 2025 07:53 ET (11:53 GMT)
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