New survey data shows Nike and Jordan brands look strong
Investing.com -- Nike Inc (NYSE:NKE) and its Jordan brand remain consumer favourites despite the company’s ongoing operational challenges, according to a new survey.
The survey, which tracks global athletic wear trends, revealed that Nike continues to dominate in unaided brand awareness for both athletic apparel and footwear.
Consumers also ranked Nike as the top brand for high-quality products, sports performance, casual wear appeal, and fashion-forwardness.
Purchase intentions for Nike and Jordan products over the next 12 months showed year-over-year improvement, with both brands outperforming peers. Additionally, Nike retained the highest Net Promoter Score among surveyed brands, climbing 400 basis points to 47%.
“We believe enduring strength of these brands provides the foundation upon which Nike can ultimately stage a comeback,” UBS analysts wrote in a note.
The report comes as Nike faces headwinds in rebuilding its product innovation cycle, which UBS estimates is still in its early stages. The company’s strategy has faced criticism for focusing more on stock performance than consumer engagement.
UBS maintained a "neutral" rating on the stock, with a price target of $73.
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