It may not be a surprise if Nike (NKE) delivers an upbeat earnings report after the close of trading on Tuesday.
After seeing its stock plunge an uncharacteristic 18% last year due to challenges in the retail space and greater competition from Under Armour (UA) and Adidas (ADDYY) , Nike has proven in recent months that it's still the pre-eminent force in athletic sportswear.
And Wall Street has taken notice of that reality (especially juxtaposed with Under Armour's struggles), sending shares of the athleticwear giant up 15% so far this year. The Dow Jones Industrial Average, in which Nike is a component, has only gained 4.8% year to date.
"We are becoming increasingly bullish on Nike as we see a series of incremental revenue catalysts that suggest the recent period of market share losses will moderate in 2017," wrote Credit Suisse analyst Christian Buss in a new note. "Our online sentiment analysis with partner Netbase shows brand sentiment for Nike reaching peak levels over the last six months."
Nike has restored buzz among Wall Street by introducing several innovative new sneakers that as Buss hints could be financial catalysts in coming months. Coming as no shocker, Nike has led with footwear as that is its most important business, representing more than 45% of annual sales. Nike's share of the U.S. sneaker market stands at a dominant 45%, according data from The NPD Group.
TheStreet takes a quick look at several sneakers that have made Wall Street optimistic on Nike's financial potential this year, and longer term as they confirm the company's innovation engine is roaring back to life.
Updated from March 20 with new details.