23:08:23 EDT Mon 29 Apr 2024
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Nike CDR (CAD Hedged)
Symbol NKE
Shares Issued 650,000
Close 2023-08-18 C$ 19.86
Market Cap C$ 12,909,000
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Globe/wire say Nike betting on Women's World Cup final

2023-08-18 07:12 ET - In the News

The Globe and Mail reports in its Friday edition that a potential multimillion-dollar sales boost is on the table for Nike or Adidas on Sunday when England and Spain face off in the Women's World Cup final. A Reuters dispatch to The Globe reports that sports sponsorship is a huge driver of sales for apparel manufacturers. In 2019, Nike's home jersey for the World Cup-winning U.S. National Women's Team became the top-selling soccer jersey, for both men and women, ever sold in a single season on its website, executives said. Overall revenue in the first quarter after the tournament grew 10 per cent, Nike said, including double-digit growth in the company's women's business "off the back of an incredible summer of celebrating female athletes." Apparel revenue from the 2019 Women's World Cup was four times bigger than it was for the 2015 event, executives said. Now long-time rivals Nike, sponsoring England, and Adidas, sponsoring Spain, will be hoping to build on that performance. Publicis Sapient consultant Liz Papasakelariou says, "It's after the game when they really start to get that exposure and bang for their buck." Nike and Adidas accounted for the majority of the kits worn in the women s tournament.

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