1124 ET - Dick's Sporting Goods says in its latest annual report that Nike accounted for 25% of its merchandise costs, up from 24% last year and 23% the year before. Nike is growing in importance for Dick's, Davidson analysts say in a research note. But at the same time, Dick's now makes up 18% of Nike's North American wholesale revenue, up from 16% and 14% in the two years prior, so Dick's is becoming more important to Nike at an even faster rate, the analysts say. Foot Locker remains Nike's biggest customer, but the gap compared with Dick's has almost narrowed and Dick's should take over as Nike's top retailer by next year, the analysts say. (dean.seal@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 11:24 ET (15:24 GMT)
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