Shares in JD Sports and Puma both experienced declines on Friday, with JD Sports falling as much as 6.6% and Puma dropping 3%. In contrast, Adidas briefly saw a small increase of over 1.5% following the news that U.S. competitor Nike predicted a surprise decrease in revenue for fiscal 2025.
Analysts at Kepler Cheuvreux noted that Nike’s focus on recalibrating its business until at least spring 2025 could present an opportunity for Adidas to seize a larger market share in the industry. This news comes as Nike faces challenges from weakening demand for its sneakers, with consumers showing interest in newer brands like On and Hoka, causing Nike’s shares to decline by over 12% after hours.
According to analysts at Jefferies, recent investor meetings for Adidas have reinforced the company’s positive outlook, with high demand for its ‘terrace’ sneakers and upcoming sport events expected to drive sales growth as early as the second quarter. Despite this, JD Sports saw its shares fall 3.4% by 0744 GMT, making it one of the worst performers on the pan-European STOXX 600 index. Adidas, on the other hand, was unable to sustain its gains and ultimately ended the day down 0.2%.