According to the Financial Communication App, Nike (NKE.US) will release its Q4 fiscal year 2024 financial report after the US post-market trading on Thursday, June 27, 2024. As the leader in the sports equipment industry, Nike's financial report is regarded as an indicator of consumer spending trends, and investors will also learn about the company's performance in its most strategic market through this financial report.

According to a survey conducted by Citigroup analyst Paul Lejuez, Nike is still the global leader in sports equipment in North American and European markets, but in another important market for Nike, China, Adidas (ADDYY.US) is closely chasing behind.

Reportedly, Paul Lejuez asked various questions to 1,600 North American consumers, 1,000 Chinese consumers, and 900 European consumers to measure the brand that respondents would recommend to family and friends, the brand they would consider buying next, and the most innovative brand. The survey results showed that North American and European consumers were relatively consistent, with Nike ranking high in net promoter score (NPS) and purchase intention, and Nike was also considered the most innovative brand. However, Adidas is catching up and shrinking the gap between some of its product categories and Nike among consumers.

But it is worth mentioning that, in China, the brand that respondents are most likely to buy is Adidas, followed by Nike. Among the surveyed Chinese consumers, Adidas is also considered the most innovative brand, and its net promoter score is also the highest, higher than Nike. These survey results from Chinese consumers should give Nike's management reason to be concerned. In 2023, the China market contributed 15% of Nike's total revenue, down from 16% in 2020. In addition, although North America is still Nike's largest market (contributing 44% of Nike's total revenue in 2023), Citigroup's survey results show that Nike's appeal in North America is gradually losing to Adidas.

For Adidas, China is its third-largest market, with 15% of its revenue coming from China. Adidas has ambitious plans to shift more production to China and integrate Chinese culture into its designs. However, do not overlook Nike's commitment to the China market. Nike CEO John Donahoe previously stated, "China is a very important market for Nike. It always has been and always will be. We are committed to investing in China. We will double down on our efforts to drive success in China with innovative products."