As the World Cup brand battle heats up, sportswear giant Adidas (ADSGn.DE), opens new tab appears to be getting a bigger boost than rival Nike, early data show.

Both companies are investing heavily in the ​tournament, but Nike (NKE.N), opens new tab is relying on it for sales and visibility as it tries to right its ship amid years of steadily leaking market share. ‌Investors will be looking for signs of progress next week when Nike reports fourth-quarter earnings.

Adidas, an official World Cup sponsor and a brand long associated with soccer, is sponsoring 14 teams and supplying the coveted match ball.

Nike is outfitting 12 national teams, partnering with local street-wear designers, and refreshing soccer merchandise at more than 5,000 Nike and wholesale stores globally.

But while both brands are poised to get a ​World Cup boost to their apparel businesses, Adidas is benefiting “to a greater degree thus far,” said Drake MacFarlane, a research analyst at M Science.

Spending on Adidas ​apparel surged 70% in May from the previous year and stayed strong into June, according to M Science data. MacFarlane attributed the ⁠trend to “substantial growth” in jersey sales ahead of the World Cup.

Nike’s apparel business is growing as well, he added, but that growth is being outpaced by Adidas, which ​has “the right set of product for the consumer.”

Foot traffic data tell a similar story.

Visits to Adidas’ U.S. stores surged 47% during the first week of the World Cup compared to ​2026 averages, versus an 11% jump at Nike’s U.S. factory stores, according to data from Placer.ai, shared with Reuters.

For Adidas, those visits represented a 16% jump versus the same week last year — but for Nike, they represented a drop, Placer.ai found.

While the Nike data only covers outlet stores, the overall findings still indicate that Adidas “has been top of mind for shoppers and may have done a good job ​in its store activation around the event,” said Elizabeth Lafontaine, Placer.ai’s director of research.

British retailer JD Sports (JD.L), opens new tab said Mexico jerseys – which are supplied by Adidas – were its best-selling team ​kit during the week beginning June 15. Nike’s U.S. team jerseys took the second spot in total sales, the retailer said.

A bright spot for Nike: 28% of its World Cup merchandise in ‌the U.S. ⁠sold out during the first two weeks of the tournament – well above Adidas’ 7%, according to a report from LSEG this week.

FOOTWEAR IN FOCUS

Nike has had a strong presence at the World Cup.

A Reuters analysis found that 232 of the 528 World Cup starters so far have worn Nike boots, with Adidas close behind at 218. “Nike is right there” despite Adidas’ close association with FIFA, said David Swartz, an equity analyst at Morningstar. “Strong visibility … is good for its brand strength.”

World soccer’s governing body FIFA runs the tournament.

Nike could use the ​win: sales have fallen as demand for classic ​lines like Dunk and Air Jordan ⁠has cooled. Competition from newer players like On and Deckers (DECK.N), opens new tab has intensified, and analysts say the company has been slow to pivot to new styles.

While World Cup visibility can’t hurt, “at the end of the day it’s really all about the product,” said Mari Shor, senior ​equities analyst at Columbia Threadneedle, which holds Nike stock. “If [Nike’s] product isn’t resonating, the rest of it doesn’t matter.”

Nike’s share of the ​global sports footwear market ⁠has fallen from 29.2% in 2022 to 22.9% last year, according to Euromonitor International data, obtained by Reuters.

Nike and Adidas have lately traded blows.

In April, Nike entered exclusive talks to provide balls for certain UEFA soccer matches, a role that was Adidas’ for 25 years. Later that month, though, Kenyan Sabastian Sawe wearing new, ultra-light shoes from Adidas broke the two-hour marathon barrier, a ⁠coup as the ​two companies battle for sports innovation.

Nike CEO Elliott Hill, who took the helm in 2024, vowed to refocus Nike ​on key sports like soccer and running, saying the company had “lost its obsession with sport.”

Yet it remains the larger company by far, its footwear market share still nearly double second-place Adidas.

It’s “the biggest dog in the fight,” ​said Sarah Henry, a portfolio manager at Logan Capital Management. “It should be able to hit everybody else pretty hard.”

(Reuters)

 The impact of lower oil and shipping costs could begin to appear within a few weeks, but it may take several months for these savings to fully pass through to retail prices and consumer goods, depending on supply chains and existing contracts, industry experts said.

The reopening and stabilisation of shipping through the Strait of Hormuz is expected to ease pressure on energy and freight costs, giving UAE residents the prospect of more stable fuel prices and gradual relief on some imported goods.

Consumers, however, should not expect an immediate drop in supermarket bills or retail prices. Many businesses are still working through stock bought when shipping costs were higher, while suppliers, insurers and freight companies will want to see stability hold before fully resetting prices and operations.

Haris Shaikh, CEO of Gallop Shipping in Dubai, said the reopening of the Strait of Hormuz allows oil, gas and goods to move normally again through one of the world’s most important trade routes, reducing concerns about supply disruption and easing pressure on energy and shipping costs.

“The impact of lower oil and shipping costs could begin to appear within a few weeks. However, it may take several months for these savings to fully pass through to retail prices and consumer goods, depending on supply chains and existing contracts,” he said.

The first signs of relief are likely to be felt in fuel and shipping costs, followed by goods that depend heavily on transport and energy expenses. Food products, transportation services and travel costs could also see some benefit over time if lower oil and freight costs are sustained.

Shaikh said UAE consumers should expect greater market stability and less price volatility in the coming weeks, but not “immediate or significant reductions in all prices,” because lower costs take time to move through the wider economy.

UAE ports stand to benefit

The deal is also expected to support the UAE’s trade and logistics sector by making shipping routes in the Gulf safer and more reliable.

Hiba Alemadi, CEO and Founder of Queen Gulf Capital, said safer routes should help lower shipping costs and increase the amount of cargo moving through UAE ports, although the return to normal operations will be gradual.

“The deal is good news for the UAE because it makes shipping routes in the Gulf safer and more reliable. This should help lower shipping costs and increase the amount of cargo moving through UAE ports. However, things may not return to normal right away. Shipping companies, insurers, and businesses will want to see stability over time before fully restoring operations,” she said.

In the longer term, she said the UAE is in a strong position to benefit from higher trade volumes because of its ports and logistics network, which can support growing regional business activity.

Freight rates may not fall quickly

Freight rates have increased significantly since March as businesses dealt with regional uncertainty, higher risk costs and disruption-related charges. Even with Hormuz reopening, industry executives expect the adjustment to be slow.

Alemadi said some exceptional charges, including drop-off, internal shifting and related operational costs, could reduce gradually if the situation stabilises. A significant reduction in freight rates, however, is unlikely in the immediate future.

This significantly impacts retailers and shoppers, as higher shipping costs are already built into the prices of many goods on shelves. Importers and retailers may need several delivery cycles before lower freight costs begin to show up in consumer pricing.

“The reopening of the Strait of Hormuz is good news for UAE retailers and shoppers, but the benefits will not happen right away. Businesses need time to adjust, and many retailers are still selling products bought when shipping costs were higher. If the situation remains stable, shoppers could see more stable prices and better product availability over the next few months,” Alemadi said.

DP World prepares for higher vessel calls

DP World GCC said the de-escalation in regional tensions is an encouraging development for trade, with teams staying in contact with customers and shipping line partners as conditions evolve.

“At Jebel Ali, we have prepared extensively for the return of sea freight volumes through the Strait of Hormuz and our teams are primed and ready to manage the increase in vessel calls once shipping schedules begin to normalise,” said Ahmad Yousef Al-Hassan, CEO and Managing Director of DP World GCC.

He added that DP World’s immediate priority remains “keeping cargo moving safely and reliably” through its regional multimodal network, while giving customers the flexibility and visibility they need during this period.

A smoother return of vessels through Hormuz would support port activity, warehousing, trucking, re-exports and regional distribution, all of which are central to Dubai and the wider UAE’s role as a trade hub.

Oman and Iran back safe passage

The commercial outlook follows a joint statement issued by Oman and Iran after talks in Muscat during the visit of Iranian Parliament Speaker Dr. Mohammad Bagher Ghalibaf and Foreign Minister Dr. Abbas Araghchi.

Oman affirmed its support for the Islamabad Memorandum of Understanding signed between the United States and Iran, and said continued dialogue and coordination were important for its successful implementation.

Oman and Iran, the two coastal states bordering the Strait of Hormuz, reaffirmed their commitment to ensuring safe passage through the Strait in line with international law, while also stressing their sovereignty and sovereign rights over their respective territorial waters.

The two countries agreed to sustain dialogue through a joint working group between their foreign ministries. The group will discuss the future management of navigation in the Strait, including services and associated costs, while also engaging with littoral states in the region and other related parties.

What residents should expect now

The near-term impact for UAE residents is likely to be confidence and stability first, followed by gradual cost relief if the situation holds.

Lower uncertainty across global markets can support trade, investment and business planning. It can also help reduce pressure on household budgets if oil and shipping costs remain lower for an extended period.

The most evident consumer benefit over the next few months may be steadier prices and stronger availability, especially for imported goods that rely on shipping schedules. Significant price cuts will depend on how long the route remains stable, how quickly freight rates adjust, and when retailers replace higher-cost inventory with new shipments bought at lower logistics costs.

GN

Gold prices in Dubai fell further on Wednesday morning, giving jewellery buyers a good price break after rates pulled back from the highs seen earlier this month.

At 8.50 am, 24-karat gold stood at Dh491.50 per gram, compared with Dh498.75 on Tuesday, while 22-karat gold was at Dh455.25, down from Dh461.75. The latest decline gives UAE shoppers a lower entry point, although traders say buyers should still expect quick price swings because global bullion remains sensitive to the dollar, US interest-rate expectations and equity market volatility.

The fall marks a retreat from the start of June, when 24-karat gold was trading above Dh539 per gram and later touched Dh542.50 on June 2. Prices remained elevated in the first week, with 24-karat gold at Dh538.50 on June 4 before easing to Dh522.50 on June 5 and holding near Dh521 levels over the following days.

Prices pull back from June highs

The most notable move came around June 10, when 24-karat gold dropped to Dh492.50 and 22-karat fell to Dh456, before prices recovered again in the middle of the month. By June 15 and 16, 24-karat gold had climbed back above Dh521, while 22-karat returned to the Dh482 to Dh483 range.

That recovery did not last. Prices eased again from June 18, when 24-karat gold stood at Dh509.25 and 22-karat at Dh471.50. By June 22, 24-karat had slipped to Dh506, followed by Dh498.75 on June 23 and a further decline on Wednesday morning. The latest price leaves 24-karat gold more than Dh50 below its June 2 level, giving buyers a much lower rate than they would have paid earlier this month.

Should shoppers buy now?

The latest drop improves affordability, especially for those purchasing wedding jewellery, gifts or larger pieces where a Dh40 to Dh50 move per gram can make a visible difference to the final bill. Buyers who have been waiting through June’s price swings may see current levels as more attractive, particularly after the metal’s pullback from record highs.

Still, analysts say the decision depends on whether shoppers are buying for immediate use or trying to time the market. Those purchasing for near-term needs may benefit from the current correction, while buyers with flexibility may prefer staggered purchases because the market remains exposed to sudden moves.

Dollar strength weighs on bullion

Globally, gold fell for a second day as a stronger US dollar and a tech-led selloff in equities prompted some investors to cut bullion holdings and raise cash to cover losses elsewhere.

Spot gold dropped as much as 1.2% to below $4,070 an ounce, after falling 1.7% in the previous session to record its lowest close in two weeks. US Treasuries rallied on Tuesday, while a gauge of the dollar gained 0.6% so far this week, making dollar-priced bullion more expensive for buyers using other currencies.

Gold is usually seen as a haven during periods of uncertainty, but it can also fall during broad market selloffs because investors use it as a source of liquidity. Tuesday’s Wall Street decline was driven by concerns that the AI-led equity rally had moved too far, although Asian markets later showed a cautious recovery.

Rate outlook remains a risk

Gold is also facing pressure from persistent inflation risks and expectations that central banks may keep interest rates steady for longer or move towards further hikes. Higher borrowing costs tend to weigh on gold because the metal does not offer interest income.

The hawkish tone from Federal Reserve Chair Kevin Warsh has added to investor caution and partly offset the supportive impact from last week’s interim US-Iran peace deal. Until there is greater clarity on inflation, interest rates and the dollar, Dubai gold prices are likely to remain volatile, even if current levels look more appealing for shoppers than the highs seen earlier this month.

GN