For decades, Nike (NKE) was a dominant leader in running shoes and running culture. However, the sneaker maker has lost its grip in recent years as new competitors like Hoka and On make aggressive inroads to appeal to runners. Now, the Swoosh-adorned company is ready to launch a comeback. “This has been one of our toughest fights over the past few years, and it is one of our biggest opportunities,” Matthew Friend, Nike’s chief financial officer, told analysts during the company’s quarterly earnings call yesterday (Oct. 1).

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Friend acknowledged that Nike has “lost share in the running specialty channel”........

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