Nike regains 'pole position' on footwear wall -- J.P. Morgan

For the first time in two years, Nike (NYSE:NKE) has recaptured the “pole position” in the men’s footwear segment, taking the first three columns of the men’s footwear panel at Foot Locker (FL) brick and mortar stores, and leading J.P. Morgan’s Matthew Boss to reiterate his Overweight rating on the sportswear giant.

Boss highlights Nike’s (NYSE:NKE) “Your Choice” campaign, which spotlights its core running lineup—Pegasus, Vomero, and Structure. On the footwear wall, Nike now dominates with three columns, outpacing On Running (ONON), HOKA (DECK), adidas (OTCQX:ADDYY) (OTCQX:ADDDF), and New Balance, each with two. The shift marks a notable resurgence for Nike (NYSE:NKE) which previously trailed its rivals in placement—behind HOKA (DECK), On Running (ONON), New Balance, adidas (OTCQX:ADDYY) (OTCQX:ADDDF), and last of all, Nike (NKE) itself. J.P. Morgan’s fieldwork indicates the reordering took place in late July/early August, coinciding with the campaign’s launch.

The campaign comes as the company reported high-single-digit+ sales growth in the running category in the fourth quarter, led by Vomero 18, which in over just 90 days became a $100M+ franchise.

And besides the Pegasus, Vomero, and Structure, Nike (NKE) plans further expansion in the running-inspired space with a Fall 2025 launch of the Air Superfly, and relaunch of the LD-1000, initially launched in 1977 as a long-distance running sneaker.

Boss upgraded Nike (NKE) to Overweight from Neutral in late July, pointing to its diversified product, geographic, and distribution mix, and noting the company has reached an inflection point for renewed revenue growth under CEO Elliott Hill after more than a year of stagnation or contraction.

 Nike (NKE) shares opened fractionally higher on Monday.