Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains dives into some of the best sports retail stocks to buy as we head into 2019. Clearly, after Nike’s (NKE - Free Report) better-than-expected earnings last week, which helped NKE stock soar, the sports retail world seems to be more than healthy. So let’s check out some of the more unheralded sports retailers to consider.
Nike blew away investors last week after its crushed quarterly top and bottom-line estimates. The sportswear giant’s digital segment propelled the company as it continues its successful direct-to-consumer push in the age of Amazon (AMZN - Free Report) . Nike’s e-commerce expansion includes multiple apps and its massive presence across social media from Instagram (FB - Free Report) to Twitter (TWTR - Free Report) , where it blows away Adidas (ADDYY - Free Report) and Under Armour UAA.
Nike has also been able to remain a sports performance power as it expands its streetwear and athleisure offerings. And Nike has committed to elevated strategic partnerships with the likes of Foot Locker (FL - Free Report) , Nordstrom (JWN - Free Report) , and Dick’s Sporting Goods (DKS - Free Report) (also read: Breaking Down Nike's Impressive Earnings Results).
Nike has been one of the industry’s top players for decades, but some less talked about companies look like they might be worth thinking about at the moment. One of the first of these sports retailers is V.F. Corporation VFC. The name might not sound that familiar, but its brands are industry powers. The North Face, Timberland, Vans, and Wrangler are just a few of the many outdoor-focused brands under the V.F. umbrella and the company looks poised to grow as it Vans brand gains traction and its direct-to-consumer push pays off.
Meanwhile, Skechers U.S.A., Inc. (SKX - Free Report) seems ready to continue to ride the “ugly” and retro footwear trend. The company’s revenues popped last quarter, but SKX stock has tumbled over the last year, which sets up what could be a great buying point for those high on Skechers.
Moving on, Deckers Outdoor Corporation (DECK - Free Report) and its Ugg, Teva, and Sanuk brands have done well recently. But its performance running and hiking shoes and apparel brand HOKA ONE ONE’s sales soared 28.4% last quarter. On top of that, Columbia Sportswear COLM, Canada Goose (GOOS - Free Report) , and Lululemon (LULU - Free Report) are all also Zacks Rank #2 (Buys) stocks at the moment and boast solid earnings outlooks.
With that said, make sure to listen to this episode of Full-Court Finance for more complete breakdowns of the sports retail stocks to consider buying heading into 2019.
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