Nike's third-quarter revenue is expected to increase, and the company is poised to expand its market share through 2023. This growth is attributed, in part, to major rival Adidas' split with Kanye West, which resulted in a loss of about $600 million in quarterly sales for the German company.

In addition to Adidas' loss, Nike is expected to benefit from strong sales of its Jordan Retros and newer product launches. With innovative product lines, Nike continues to outperform its rivals, and there is an opportunity for the company to capture more market share from Adidas, which has struggled to produce as many bestsellers as Nike.

Nike has also focused on expanding its presence in the growing Chinese market, where it has outperformed Adidas due to better inventory management and more localized products.

However, Nike's margins may be squeezed in the quarter as it continues to offer promotions and discounts to reduce excess stock.