Nike sees boost in website visits, sales during Olympics, Reuters reports

Nike (NKE) appears to be benefiting greatly from the 2024 Summer Olympics, as the global sporting event has helped increase demand for the company’s new launches and edge out rivals, Reuters’ Ananya Mariam Rajesh reports, citing website searches from research firm Similarweb. In the opening week of the Olympic Games, Nike and Puma (PUMSY) saw boosts in visits to their direct-to-consumer sites, while Adidas (ADDYY) and other brands all saw a decrease in visits compared to the week before, the author notes. Of Nike’s recent visits, which peaked at 2M on July 31, 86,900 included a sale, while Adidas’ 532,500 visits during that time only resulted in 3,600 product purchases, the author says.