The talk of the town has been the World Cup, and Nike turns out to be a beneficiary of this year’s FIFA. According to a recent Adobe Analytics report, World Cup-related spending has risen sharply in the seven days to June * against average daily April spend. In the US, US jerseys and merchandise saw a *** per cent jump in sales.
Telsey Advisory Group Cristina Fernández said that wholesale should have benefited from sell-in of World Cup merchandise, mostly in apparel. Nike is sponsoring the US and Brazil among ** other teams and is seeing strong consumer attraction turn to sales.
Jefferies pointed out that Nike’s federation kits span ** teams with Aero-FIT, while X* capsule collections pair * federations with collaborators, while its World Cup activation spans *K plus doors and key global cities, providing a catalyst to reaccelerate apparel demand.
“We expect Nike to show progress on its ‘Win Now’ actions, particularly in North America, partially offset by ongoing headwinds in China and EMEA,” Fernández added.
