The lack of innovation in the athletic footwear sector will take time to work through, and that means challenges are ahead this holiday season for some sneaker brands. “The athletic footwear and apparel category remains challenged, as a lack of newness and innovation continues to shift consumer interest toward other areas of the closet and pressure the sector,” said Lorraine Hutchinson and Mary Sport, analysts at Bank of America Securities (BofA), in a research note. Only one athletic brand in the firm’s coverage universe was cited for its growth prospects. “Amer Sports remains the bright spot, with innovation and strong execution across Arc’teryx, Salomon, and Wilson demonstrating that consumers are still responding to compelling newness,” they wrote. Nike and Lululemon were called out for their ongoing struggles. “Nike has made some progress on innovation, but not enough to offset broader areas of weakness,” the report noted. “Lululemon faces a similar challenge as it works to re-engage customers through improved product and branding.” Nike’s troubles aren’t new, and its struggles have resulted in company veteran Elliott Hill returning to the brand in 2024 as president and chief executive officer to head up its turnaround. And just recently, Swoosh also brought in new chief
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