NEW YORK: Nike Inc, the world’s No. 1 footwear maker, will continue to dominate the sportswear market despite intensifying competition in North America, analysts said, a day after the company reported “futures orders” below estimates.
Nike’s futures ordering program allows retailers to order five or six months in advance of delivery, with the commitment delivery will be made within a set time at a fixed price.
Nike said on Tuesday its global orders for September through January were up 7 percent on a constant-currency basis, missing the 8 percent increase analysts had expected.
“Despite the threat from a push by competition and disappointing futures, we view Nike’s scale and dominance as a long-term barrier to entry and maintain our ‘buy’ despite what appears a nascent share loss,” Nomura Securities analyst Simeon Siegel wrote in a client note.
Analysts also noted that Nike’s futures orders for all regions except North America had met or beaten estimates.
Nike shares were set to open about 1.2 percent lower at $54.68 on Wednesday, even though the company’s quarterly revenue and profit beat Wall Street estimates.
The shares fell as much as 5 percent in after-hours trading on Tuesday after the release of the results.
At least eight brokerages cut their price targets on the company’s stock, with FBR Securities reducing the most, by $8 to $55. The median price target is $63.
Nike’s rivals are chipping away at its decades-long dominant position in sports shoes — Under Armor Inc. with its popular Stephen Curry line of basketball shoes and Adidas with retro sneakers such as the Stan Smith line.
Germany-based Adidas has also been spending more on marketing in North America.
Nike said it would no longer provide information on futures orders in its quarterly earnings releases, but would discuss them during its earnings conference calls.
That decision was “very suspect,” Edward Jones analyst Brian Yarbrough told Reuters on Tuesday.
Analysts at Credit Suisse also expressed concern.
“We are becoming increasingly concerned that the quality of results is deteriorating, as top-line trends in key markets look shaky, gross margin pressure is persistent, and the company is reducing disclosure,” Credit Suisse analysts wrote in a note.
The brokerage cut its price target to $60 from $63.
However, Nomura’s Siegel played down the change in futures reporting.
“Sales guidance has been a better approximator of actual sales growth vs. futures in all but two quarters since 1Q15 and we therefore fully understand management’s decision to dilute the importance of the metric,” he said, cutting his price target to $60 from $64.
Nike on track for long-run growth
Nike on track for long-run growth
Accelerating growth boosts investor confidence
- Startups attract fresh capital to scale AI, health tech, and infrastructure
RIYADH: Startups across the Middle East and North Africa are accelerating growth through strategic funding rounds, partnerships, and technological innovation.
From agriculture tech and AI-led cybersecurity to digital health and home renovation, this week’s developments reflect the region’s expanding startup ecosystem and investor confidence across key verticals.
Saudi agritech startup Nabt has raised $3.4 million in a seed extension round, bringing its total funding to $5 million.
The round was led by SHG Group, with participation from Merak Capital and several angel investors, signaling strong investor confidence in the company’s long-term growth strategy.
The funding announcement took place during a signing ceremony at the Sunbola program event under the Ministry of Environment, Water, and Agriculture.
Founded to build both physical and digital infrastructure for the fresh-produce sector, Nabt connects farmers directly with commercial buyers through fulfillment centers that handle sorting, cold storage, and last-mile logistics.
The company recently launched the Nabt Online Auction to support large-scale produce trading across the Kingdom, and Nabt Intel, which provides real-time pricing and market-demand data.
CEO Abdullah Al-Otaibi said: “In just two years, Nabt has proven that building transparent and efficient infrastructure for fresh produce is not only possible but essential.”
The new capital will support expansion into additional Saudi cities and further develop Nabt’s infrastructure and services to boost food security and farmer profitability across the country.
COGNNA raises $9.2m
COGNNA, a Saudi cybersecurity company founded in 2022, has closed a $9.2 million series A round led by Impact46 and co-led by BNVT Capital, with participation from Vision Ventures and Tali Ventures.
The company offers AI-driven security operations tailored for enterprises and SMEs through its Agentic SOC platform.
Combining AI automation with human oversight, COGNNA’s platform helps organizations simplify compliance and proactively defend against cyber threats.
Chief Technology Officer Ziyad Al-Sheri stated: “Through our AI-led platform, we are building an Agentic SOC that doesn’t just respond to threats — it anticipates them.”
The funding will be used to accelerate global expansion, enhance R&D in AI automation, and scale operational teams and infrastructure to meet growing demand.
The company plans to allocate capital across product development, marketing, hiring, and international operations.
Funch raises $500k
Funch, a Dubai-based AI-native lunch subscription startup, has secured $500,000 in a pre-seed round led by Angelspark, with participation from investors including Mostafa Kandil, Mahesh Murthy, and Tushar F.
Founded in 2025 by Ahmad Joehnny and Ghada Zanaty, the platform offers flexible, credit-based lunch subscriptions for 19 Emirati dirhams per day with no delivery fees.
Funch replaces traditional meal plans with a system where users can pause, skip, or cancel orders while using credits only when meals are delivered.
“Our model is built around pre-planned orders, enabling us to operate with higher efficiency, reduce waste, and cut emissions with fewer trips,” said co-founder and chief operating officer Ghada Zanaty.
The company leverages AI to forecast demand, optimize routes, rotate menus, and streamline logistics, and will use the funding to scale across Dubai and develop its AI systems further.
Paymob teams up with Robusta
Egyptian fintech Paymob and software development firm Robusta Technology Group have announced a strategic partnership to accelerate digital transformation across Egypt and the wider region.
The collaboration will integrate Paymob’s digital payments infrastructure with Robusta’s AI-driven product development and analytics capabilities.
The joint initiative aims to deliver intelligent digital experiences for SMEs and enterprises, supporting Egypt’s Vision 2030 goals.
Both companies plan to expand regionally and develop future offerings combining automation, analytics, and seamless payment systems to improve operational efficiency for merchants and startups.
Reno raises $4m
UAE-based renovation technology platform Reno has raised $4 million in a mix of equity and debt funding.
The round included investments from Sanabil 500, Hub71, and Plus VC, as well as Zero 100 VC, FlyerOne Ventures, and Sandstorm VC. AngelSpark and Swiss Founders Fund also invested.
Founded in 2024 by Marc Michel, Amr Hosny, and Farah Karabeg, Reno offers a tech-enabled, end-to-end solution for interior design and renovation services in both residential and commercial sectors.
Reno aims to streamline the renovation process through a unified digital platform, allowing customers to manage projects from planning through execution.
The company plans to use the new capital to expand across the GCC region, enhance its technological infrastructure, and further develop its customer experience.
Glenwood PE and Mubadala invest in Korean desalination firm NanoH2O
Glenwood Private Equity and Abu Dhabi’s Mubadala Investment Company, along with co-investors, have completed a co-investment in NanoH2O, a Seoul-based reverse osmosis membrane manufacturer previously operating as LG Water Solutions under LG Chem.
All closing conditions and regulatory approvals for the investment have been fulfilled.
NanoH2O, which became an independent entity in 2024, supplies desalination and brackish water treatment solutions to municipal and industrial clients worldwide. More than 95 percent of its revenue is generated outside South Korea.
“We have strong conviction in NanoH2O’s technology leadership and long-term growth potential,” said Mohamed Al-Badr, head of Asia at Mubadala.
The firm aims to support NanoH2O’s global expansion, particularly in the MENA region, amid growing concerns over water security and decarbonization.
