Working footwear and retail beneficial properties are serving to Nike’s turnaround — and cranking up the warmth on rivals

In recent years, rivals have chipped away at Nike Inc.’s dominance over the sneaker universe. But after the athletic-gear giant’s

longer-term financial outlook offered a rare bright spot for investors, some analysts say the company could start to take back lost business.

Jefferies analyst Randal Konik, in a research note on Wednesday, said some big gains for Nike’s NKE running shoes — namely, a 20% sales gain during its most recent quarter — meant rival On Running ONON “could face mounting pressure” to keep up its own elevated retail sales growth. He added that high prices for On’s shoe assortment and a narrower product selection represented constraints.