Deutsche Bank's Footwear Report: Basketball, Running Shoes Sales Going Strong

Dave Weiner of Deutsche Bank released his weekly Athletic Footwear data on Wednesday.

The analyst notes that total athletic footwear sales (per SportScan Info SSI) rose 2.5 percent in the week ending November 15. The weekly gains were due solely to basketball and running shoes as all other categories saw sales declines.

Basketball shoe sales rose 6.1 percent year-over-year driven by Jordan Retro 12 ‘Cement Grey' and LeBron 12 ‘Dunk Force' launches. Sales were aided by October's initial LeBron 12 launch.

Running shoes posted a "robust" sales growth, increasing 8.3 percent year-over-year. The Internet and Chain Specialty channels saw the largest share gains, according to the analyst.

Sales of Nike Inc (NYSE: NKE) shoes gained 8.8 percent from a year ago while Under Armour Inc (NYSE: UA) saw its shoe sales surge 46.8 percent due to launches of Jet & ClutchFit Basketball shoes and Spine & Engage Running shoes.

Adidas saw its shoe sales plunge 38.1 percent from a year ago.

The analyst made no changes to any ratings, price targets or estimates.

Shares of Nike are Buy rated with a $95 price target.

Shares of Under Armour are Buy rated with a $78 price target.