Dick’s Sporting Goods Inc. shares jumped 6.1% in Wednesday trading after the athletic retailer announced a partnership with Nike Inc.
Dick’s Scorecard members can now link their rewards account to their Nike
NKE,
membership account on the Dick’s mobile app. Customers will have access to member-exclusive merchandise launches and in-store events.
On Thursday, there will be a Nike Air Force 1 launch and in both November and December, there will be events at Dick’s House of Sports locations in Rochester, N.Y., and Knoxville, Tenn.
Nike has been focused on increasing its direct-to-consumer business and ending relationships with retailers and other sellers that no longer fit its long-term business strategy.
“We’re helping consumers connect with sport and our products whenever, however and wherever they shop Nike,” said Sarah Mensah, vice president and general manager of Nike North America, in a statement.
“Our partnership with Dick’s is just another example of how we are reimagining how people connect with Nike across an increasingly digital and connected marketplace.”
Dick’s
DKS,
stock has more than doubled for the year to date, up 131%. Nike shares are up 21%. And the Dow Jones Industrial Average
DJIA,
has gained 17.6% for the period.
This post was originally published on Market Watch
