Skip to main content

Market Overview

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

Share:

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.

Latest Ratings for NKE

DateFirmActionFromTo
Mar 2022Cowen & Co.MaintainsOutperform
Jan 2022Wells FargoUpgradesEqual-WeightOverweight
Jan 2022Seaport GlobalInitiates Coverage OnBuy

View More Analyst Ratings for NKE

View the Latest Analyst Ratings

 

Related Articles (NKE)

View Comments and Join the Discussion!

Posted-In: Basketball Shoes Dave Weiner LeBron James NikeAnalyst Color News Retail Sales Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com