The latest data from Foot Locker, Inc. confirms that adidas AG (ADR) has stolen the athletic footwear momentum away from rivals Nike Inc and Under Armour Inc .
According to Jefferies analyst Randal Konik, good news for Adidas is bad news for Nike and Under Armour.
Konik recently reported Jefferies proprietary Foot Locker data scrub trends for the month. According to Konik, Adidas now has “many additional” products among Foot Locker’s top 60 sellers compared to the same time a month ago.
“This emergence is likely to soak up some of NKE and UA’s market share in both running and basketball, with bigger emphasis on the running category,” Konik explains.