1038 GMT - Nike's guidance mainly mirrors company-specific challenges rather than a sudden downturn in industry trends, UBS analysts write in a note. The U.S. sporting-goods giant, which is in the midst of a brand revamp plan, expects its sales decline to accelerate. Nike's commentary on its performance in China was more cautious, whereas Adidas began the year with high-teens growth, the analysts say. Furthermore, Nike's portfolio transition has been mostly in the performance category rather than sportswear, which should ease concerns about Adidas's ability to maintain its momentum, they add. As for Puma, it might need to ramp up investments to remain competitive, as Nike is focused on increasing marketing efforts, UBS adds. Shares in Adidas are up 0.4%, while Puma trades 3.4% lower. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 06:38 ET (10:38 GMT)
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