Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales.
Nike has also doubled down on its product lines such as the LeBron 20s and Nike Mercurial shoes, while also grabbing a bigger chunk of the growing China market.
Telsey Advisory Group's Cristina Fernandez said that China is one market where Nike has significantly outperformed Adidas as it is in a much better position with inventories in the region, and has more localized products. Still, Nike's margins are expected to be squeezed in the quarter as it continues to offer promotions and discounts to shed excess stock.** Nike is expected to report third-quarter revenue of $11.47 billion, a 5.
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