From Yahoo Finance: 2025-05-23 14:38:00

Jefferies analysts predict Nike will regain market share in athletic footwear due to slowing sales growth of Deckers Outdoor’s Hoka brand. Hoka’s fourth-quarter sales increased 10% year-over-year, a significant decline from previous quarters. Jefferies attributes this to Nike’s innovation and wholesale penetration, along with upcoming partnerships like SKIMS.

Deckers reported Hoka sales rose 10% in the fourth quarter, down from 24% and 35% in prior quarters. Jefferies analysts believe this slowdown will benefit Nike, citing the brand’s innovation and partnerships. They also anticipate a positive impact from Dick’s Sporting Goods’ acquisition of Foot Locker on Nike sales.

Nike’s shares dropped 2% while Deckers Outdoor saw a nearly 20% decline after not issuing a fiscal 2026 outlook due to tariff uncertainty. Jefferies maintains a “buy” rating with a $115 price target, double the closing price. The Street consensus is around $74 according to Visible Alpha.

Read more: Hoka’s Slowing Sales Growth Could Lift Nike, Jefferies Analysts Say