Move over Nike — Jim Cramer says Deckers and 3 others companies are 'taking share'

📆 01/04/2024 19:27:00
📰 CNBC

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On Monday, CNBC's Jim Cramer said he agrees with analysts who believe brands such as Hoka and On Holding are challenging Nike's position in the shoe market.

CNBC's Jim Cramer on Monday highlighted a group of shoe companies challenging Nike 's position in the market, following positive Wall Street research that pointed to multiple catalysts to propel the brands forward. Barclays on Monday initiated footwear coverage on Deckers Outdoor , On Holding , Crocs and Skechers USA all with a buy-equivalent rating.

mountain Deckers Outdoor share performance over the past 12 months. Meanwhile, shares of Switzerland-based On Holding are up about 12% over the past year. The footwear and athletic apparel maker, which counts tennis icon Roger Federer among its backers, went public in 2021. While Barclays said its survey data suggests Nike is still seen as a "cool" brand and is top of mind in sport, analysts still see "significant runway" for Deckers' Hoka and On, in particular.

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