What a Winning Strategy Looks Like in Today’s Sneaker Market

In the world of sneakers, there is a growing gap between the strong brands and the weak ones.

In one camp are Nike and On, which on Wednesday topped already high expectations for sales in their most recent quarterly results. Nike reported $12.4 billion in revenue for the quarter ending in February, a 14 percent increase from a year ago, with net income of $1.2 billion, down from the same time last year but topping analysts’ forecasts.

Swiss…