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There’s no doubt that Nike is the world’s leading sports brand. The company will announce earnings at the close of trading on Thursday. Nike's stock is up 20 percent so far this year. So what's next for the sports giant? 

Nike is looking to the apparel side, said Camilo Lyon, the managing director of equity research at Canaccord Genuity.

"For the most part, the major athletic brands focused on the athlete as opposed to taking that more comfort and athletic look to the street,” Lyon added. 

Case in point – Nike’s reporting a 16 percent increase in women’s apparel sales. But Nike faces competition in that sector, which includes well-known brands like Lululemon. 

“Being a good innovator does not require that you be first,” said Micheal Braun, an associate professor of marketing at Southern Methodist University. "And as people become more health conscious, that just provides an opening for Nike to expand while still being true to that brand."

Bob Froese said that Nike's brand still appeals to a lot of consumers. He runs Bob's Your Uncle, a branding agency in Toronto.

"I actually feel like Nike would have to fall down on the job a little bit in order for somebody to really catch them,” he said.

Last year Nike posted revenue of more than $30 billion.

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Follow Andy Uhler at @AU_Marketplace