2025年08月24日 证券研究报告 | 美股市场速览 回调后再度发动，中小盘明显占优 行业研究·海外市场专题 美股 弱于大市·维持 证券分析师：王学恒 证券分析师：张熙，CFA 010-88005382 0755-81982090 wangxueh@guosen.com.cn zhangxi4@guosen.com.cn S0980514030002 S0980522040001 请务必阅读正文之后的免责声明及其项下所有内容 数据速览 价格走势：回调后再度发动，中小盘明显占优 资金流向：整体流入接近停滞，行业间分化较大 本周，标普500成分股估算资金流（涨跌额 x 成交量）为+1.7（亿美元，下同），上周为+75.8，近4周为-75.0，近13周为+209.2。 18个行业资金流入，6个行业资金流出。资金流入的行业有：汽车与汽车零部件（+11.0）、综合金融（+4.6）、银行（+3.8）、资本品（+3.3）、医疗保健设备 与服务（+3.3）；资金流出的行业主要有：软件与服务（-29.9）、半导体产品与设备（-7.7）、食品与主要用品零售（-4.7）、技术硬件与设备（-2.3）、媒 体与娱乐（-1.1）。 盈 ...

How An Upstart Apparel Brand Lured Jack Draper Away From Tennis Juggernaut Nike https://t.co/ExgjE9DnXw (Photo: Vuori) https://t.co/EAuJccFR2S ...

Key Takeaways NIKE sees strength in performance categories, but Q4 revenues fell 12% y/y, with a gross margin contraction.Deckers posts robust HOKA and UGG growth, supported by wholesale gains and global consumer demand.China remains a challenge for NIKE, while Deckers records strong international growth across EMEA and APAC.Competition in the athletic footwear market is intensifying, with NIKE Inc. (NKE) and Deckers Outdoor Corporation (DECK) emerging as the key names capturing investor interest. NIKE cont ...

Group 1 - July showed a solid advance in retail sales, indicating positive consumer sentiment and spending [1] - The core control group data from July contributes positively to GDP forecasts [1] - June's spending numbers were revised upward, further supporting the positive outlook for consumer spending [1]

Key Takeaways NIKE's Air Force 1, Dunk, and AJ1 are fading, creating a $1B revenue headwind in FY25.New launches like the Vomero 18 and Aja Wilson's line show strong early sales momentum.NIKE leans on sport-specific teams, wholesale support, and premium DTC focus for recovery.NIKE Inc. (NKE) is at a turning point as some of its most iconic franchises, like the Air Force 1, Dunk and AJ1, are fading in consumer demand. The company has deliberately taken steps to rightsize these franchises, even as it created ...

Group 1 - The article discusses Nike stock (NYSE: NKE) and its potential impact from the upcoming Paris Olympics, suggesting it could be a turning point for the company [1] - The previous coverage of Nike stock was over a year ago, indicating a long-term interest in the company's performance [1] Group 2 - Sensor Unlimited, an economist with a PhD, has a decade of experience in covering the mortgage market, commercial market, and banking industry, focusing on asset allocation and ETFs [2]

Key Takeaways NIKE's revenues fell 10% y/y in fiscal 2025, but innovation and women's footwear show early recovery.Skechers' international sales now drive the majority of revenues, supported by more than 5,300 stores.NKE trades at higher multiples, while SKX offers a lower valuation with consistent global growth prospects.When it comes to athletic and lifestyle footwear, two names often step into the same arena: NIKE, Inc. (NKE) and Skechers U.S.A., Inc. (SKX) . While NIKE commands global dominance with its ...

Group 1 - The core viewpoint of the article highlights the significant growth potential of the South Korean sports market, driven by the popularity of K-POP and a mature consumer base, as evidenced by Brooks' 19% global revenue growth and a staggering 218% increase in the Korean market [1][3] - Major brands like Nike and Adidas are actively engaging with K-POP idols for endorsements, indicating a strategic focus on leveraging the cultural influence of these celebrities to boost brand visibility and sales [4][6][7] - The article emphasizes that the South Korean market, while smaller in scale compared to China and Japan, offers unique consumer insights and a strong demand for branded products, making it an attractive target for sports brands [18][19][30] Group 2 - The article discusses the innovative strategies employed by sports brands in South Korea, such as opening flagship stores in high-end locations and creating tailored product lines to cater to local consumer preferences [10][11][15] - It notes that the social dynamics in South Korea, where fitness and appearance are highly valued, contribute to a robust demand for sports apparel and equipment, further enhancing the market's appeal [23][28] - The article concludes that South Korea serves as a critical leverage point for sports brands, providing valuable market insights and cultural inspiration that can drive broader growth across the Asian market [30][31]

Company Relationship - Nike and Foot Locker are rebuilding their long-term partnership [1] - Nike sneakers are prominently featured in Foot Locker stores again [1]

Group 1 - Bernstein raised Nike's target price from $85 to $90 [1]