2024-08-05 08:15:00 ET
Nike (NYSE: NKE) has dominated the sportswear market for more than a generation, but its leadership position isn't as strong as it once was. The company has posted anemic growth for the last several quarters and warned that revenue could decline in fiscal 2025 as it struggles, like many of its consumer discretionary peers, with weak consumer demand.
As a result, the stock is now trading near a five-year low, and losing market share to upstart competitors like On Holding (NYSE: ONON) , Deckers ' Hoka brand, and Lululemon Athletica , among others. On has attracted a lot of attention from investors, but growth and valuation don't tell the whole story. Let's take a look at how On and Nike stack up against each other to determine which is the better buy today.
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Best Stock to Buy Right Now: Nike vs. On Holding