Pursuits
Nike Sinks After Sales Slowdown Suggests It's Losing Share
- ‘Athleisure’ trend giving a boost to Adidas, Under Armour
- Global product orders decline for first time since 2009
Nike's Third-Quarter Sales Trail Analysts' Estimates
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Nike Inc. tumbled the most in 19 months after third-quarter sales missed estimates, renewing concern that the long-dominant athletic brand is losing market share to Adidas AG and Under Armour Inc.
Revenue rose 5 percent to $8.43 billion, the Beaverton, Oregon-based company said after the market closed on Tuesday. Analysts estimated $8.47 billion, on average.