Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas’ split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales.
Telsey Advisory Group’s Cristina Fernandez said that China is one market where Nike has significantly outperformed Adidas as it is in a much better position with inventories in the region, and has more localized products.
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