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Stock impact report

As Nike bleeds market share, investors worry over relevance [Reuters]

AllianceBernstein Holding L.P. Units (AB) 
Last alliancebernstein holding l.p. units earnings: 4/28 06:20 am Check Earnings Report
Company Research Source: Reuters
Chicago Bulls, during a preview for the "Gamers Only" auction sale in Geneva, Switzerland, April 28, 2021. REUTERS/Denis Balibouse/File Photo March 21 (Reuters) - Nike (NKE.N) , opens new tab has increasingly leaned on its iconic basketball shoes to boost sales , but as the sportswear giant bleeds market share to newer brands, some analysts and investors are wondering if that is a mistake. The Jordan brand and best-selling styles such as the Nike Dunk have long driven the company's sneaker sales but consumers have new favorites in the market - On (ONON.N) , opens new tab and Deckers-owned (DECK.N) , opens new tab Hoka that have grabbed more shelf space globally. "If we do a post-mortem, maybe there's been too much reliance on legacy or historical product," said Jim Tierney, chief investment officer of Concentrated US Growth Equities at AllianceBernstein, which owns Nike shares. Nike Air Jordan shoes, first produced for U.S. basketball star Michael Jordan during his time with t Show less Read more
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