Nike sales, forecast for orders disappoint while Adidas gains ground
Strong US dollar, excess inventory hurt Q4 sales and margins
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Bengaluru
NIKE Inc's quarterly revenue growth and its forecast for future orders missed analysts' estimates, underscoring the sportswear maker's struggle to fend off competition from Adidas and others, especially in its home turf of North America.
Nike's shares, already the third worst performer on the Dow Jones Industrial Average with a 15 per cent drop this year through Tuesday, fell another 4.2 per cent to US$50.85 in extended trading.
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