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Nike misses estimates as competition hots up

Under Armour attacks its lucrative basketball-shoe business; Adidas takes some of its casual business

Nike had been thriving in the years since the recession, with the stock averaging annual gains of 26 per cent since 2008. But 2016 has been a struggle.

New York

NIKE Inc has posted futures orders that missed analysts' estimates, renewing concerns that the maker of sneakers and athletic appeal can't maintain growth in the face of mounting competition.

The orders - a key indicator of demand for the brand - rose just one per cent in