Adidas is outpacing Nike by more than a mile.
The German conglomerate’s sales in North America grew by 16 percent in the second quarter ended in June compared with Nike’s 3 percent gain for the quarter ended in May.
While Nike is making turtle-like progress in North America — reversing a three-quarter stretch of negative sales this spring — Adidas, which owns the Reebok brand, is making big strides in gaining market share in the largest sneaker market in the world.
“The gap between Nike and Adidas is not as large as it used to be,” said NPD sports industry analyst Matt Powell.
Adidas brass credited its Ultra Boost sneaker franchise, which grew by nearly 50 percent, for having a “significant impact” on its strong quarter.
“We are a long way from being saturated,” Chief Executive Kasper Rorsted said on an earnings call.
The German company has been on a tear for more than a year, capitalizing on the sports fashion trend that Nike was slower to grasp.
Adidas’ torrid growth over the past two years was led by its Superstar and Stan Smith brands — demand for which has slowed. Last quarter, sales in North America grew by 21 percent. Sales of its Reebok declined 3 percent in the most recent quarter.
The German conglomerate’s sales in North America grew by 16 percent in the second quarter ended in June compared with Nike’s 3 percent gain for the quarter ended in May.
While Nike is making turtle-like progress in North America — reversing a three-quarter stretch of negative sales this spring — Adidas, which owns the Reebok brand, is making big strides in gaining market share in the largest sneaker market in the world.
“The gap between Nike and Adidas is not as large as it used to be,” said NPD sports industry analyst Matt Powell.
Adidas brass credited its Ultra Boost sneaker franchise, which grew by nearly 50 percent, for having a “significant impact” on its strong quarter.
“We are a long way from being saturated,” Chief Executive Kasper Rorsted said on an earnings call.
The German company has been on a tear for more than a year, capitalizing on the sports fashion trend that Nike was slower to grasp.
Adidas’ torrid growth over the past two years was led by its Superstar and Stan Smith brands — demand for which has slowed. Last quarter, sales in North America grew by 21 percent. Sales of its Reebok declined 3 percent in the most recent quarter.
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