Another good week on the margin, especially for Nike and the Athletic Specialty channel.
- Industry sales growth continues to improve sequentially for the second week in a row
- The sequential growth accelerated +440bps vs. last week’s acceleration
- Sales in the family retailers channel improved meaningfully on a sequential basis, though still down 4% y/y
- The sporting goods retailers continue to buoy the industry, with YTD sales growth 39% greater than the discount/mass retailers channel and 25% greater than the family retailers channel
- NKE dollar sales growth has accelerated for the second straight week, up to 24% y/y
- For the last five weeks, NKE has been gaining market share at an average +388bps/wk
- With the looming onset of March Madness, there’s no surprise that basketball apparel sales growth turned positive at +4%y/y after over five weeks of negative growth