Key facts
- Adidas reported an increase in its Running sector revenue in the third quarter.
- Nike is undergoing a restructuring plan that includes job cuts.
- Nike's Running business unit has seen double-digit growth for six consecutive quarters.
Adidas is aiming for a significant win at the New York City Marathon, building on a successful year where its sponsored athletes secured eight victories across major marathons. This performance has boosted sales and challenged rival Nike's long-standing dominance in the running shoe market. Adidas's Running sector revenue increased by 19% in the third quarter, a period of strong participation in marathoning. The company has invested heavily in innovation and athlete recruitment, prioritizing rapid product development and deployment. Nike, while facing restructuring and job cuts, continues to see growth in its Running business, with its max-cushioning category nearly tripling in market share over the past year. Both companies are investing in shoe technology, leading to increased competition in the sector.