5 Companies Feeling the Impact of the Paris Olympics

Officials predict that tourism, the construction of new infrastructure to serve the event, and other activities will bring $12.2 billion into the Paris area's economy.

1.Nike

Nike (NKE), the footwear and sporting gear giant, has prepared for a boom in sales during the Olympics. In April, it held "Nike On Air" in Paris, a showcase event that featured Pegasus Premium, the latest addition to its Air footwear and apparel range. It opened its "Art of Victory" exhibition in Paris on Wednesday."Nike Partners with the Centre Pompidou for a Bold Celebration of Sport in Paris."These and similar events have promoted new items and linked Nike to Olympic participants. Bank of America analysts see this plan as part of a larger effort to reclaim market share and pivot to a more assertive marketing approach. Revenue reported last month for the fourth quarter of fiscal 2024 fell short of expectations, and Nike subsequently remarked

2. Comcast

The Olympics are often among the most popular televised live athletic events, attracting the attention of several major streaming sites. NBCUniversal, a Comcast (CMCSA) company, will once again broadcast the Olympics, including on the Peacock streaming service. Each of the last two Olympic Games drew more than 3 billion viewers worldwide, outperforming recent World Cup finals matches and Prince Harry and Meghan Markle's wedding. This year's Olympics are expected to garner even more viewers, particularly from Western countries because the time zone provides for more convenient broadcast times than the 2020 Olympics in Tokyo.

3. Delta Air Lines

The Olympics are sure to benefit many businesses, but not all industries are ready for medals. Delta Air Lines (DAL) CEO Ed Bastian has stated that travelers may avoid Paris this summer owing to the Olympics, and that the shift in interest away from one of the company's most popular summer travel destinations may cost Delta $100 million.

Earlier this month, Delta's second-quarter earnings fell below estimates. The company has also been one of the most impacted in the sector as a result of CrowdStrike's (CRWD) software update issue, which brought down computers worldwide earlier this month. Delta reportedly canceled almost 5,500 flights in the first five days following the CrowdStrike incident, sparking a Department of Transportation inquiry.

4. Airbnb

Online homestay marketplace. Airbnb (ABNB) reported that as of March 31, nights booked in the Paris region for the Olympics were more than five times higher than a year ago, while the number of active listings in the region increased by 40%. While Paris is the principal destination for this year's Olympics, certain events will take place throughout France. Airbnb has reported a considerable surge in demand in these additional regions during the games. According to Jefferies analysts, Airbnb's benefits may extend beyond bookings in France and during the event itself. 

5. Ralph Lauren

The 2024 Olympics will be the eighth time that Ralph Lauren (RL) has designed uniforms for Team USA. Jefferies analysts tracking the fashion business described the latest uniforms as "balanced and highlighting [Ralph Lauren's] timeless & preppy style with a modern and sporty take."Ralph Lauren's uniforms, like Nike's Olympic-related products, have been altered and made available for broader consumer purchasing. They will highlight the company's work and brand name at highly public events such as the Opening and Closing Ceremony parades.