Photo: mikebaird on flickr
Americans are jogging more than ever, and this could be just the beginning.Investment bank Citi recommended athletic footwear stocks based on long-term growth, sales trends and strong product launches:
Lightweight Running on a Roll — We think running is in the early to middle inning of a growth cycle and near to medium term momentum will likely be fuelled by (1) marketing and product introductions from a variety of new entrants (New Balance, Saucony, and Reebok), (2) continued innovation from Nike (Nike Air Max 2011, and marquee Nike Free platform), and (3) running (vs. gym membership) value proposition.
Calling this the beginning of a growth cycle for is amazing for a sport that has spread like wildfire in the past few decades.
McShane upgraded Finish Line to a buy and reiterated buys on Foot Locker, Dick’s Sporting Goods and Nike.
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