Sportswear Ripple: Puma and Adidas Gain from Nike Turnaround

25 days ago

Steven Carroll

"Yes, so Puma but also Adidas were up on the back of this of Nike's turnaround this morning. Yesterday night, Nike reported earnings with a strong performance in the running and wholesale segments, and even though Nike mentioned some weakness in China, the overall sales beat was taken as a sign of consumer momentum. Puma in particular has been in a tougher spot, so the improved consumer environment is definitely a boost."

The discussion highlights that despite initial concerns that Nike's strong earnings could hurt European rivals, both Puma and Adidas benefited from the positive market sentiment driven by Nike's turnaround. Puma, which had been struggling to attract shoppers, appears poised to recover with renewed consumer momentum.