Why Nike’s CFO says ‘it’s incredibly important for Nike to win with runners’ to right the brand’s ship

As Nike charts its comeback, the activewear apparel behemoth is looking to its offerings for runners — and the group’s reception of said offerings — as a bellwether for success.

“We are especially encouraged by the momentum building in our running offense,” Matthew Friend, evp and chief financial officer of Nike, said during the company’s earnings call on Tuesday evening. “This has been one of our toughest fights over the past few years and it is one of our biggest opportunities. Our team’s focused here first in driving our comeback.”

It makes sense that Nike would focus on running in the wide spectrum of activewear. In recent years, the company has seemingly lost market share in the space to burgeoning footwear brands like Hoka and On, both of which have made gains in the running market. The so-called boom in running culture that’s followed the early days of the pandemic has driven brands like Hoka, On, New Balance and Asics to woo run clubs with shoe try-ons and other tactics to capture consumer attention.

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