Nike's quarterly revenue misses estimates

Bengaluru

NIKE Inc reported lower-than-expected quarterly revenue on Tuesday as the world's largest footwear maker battles for market share in North America with a resurgent Adidas AG and a fast-growing Under Armour Inc.

Shares of the Dow component were down 3.6 per cent at US$55.91 in post-market trading on Tuesday, after the company also forecast a key metric on orders below analysts' expectations.

Nike and its Jordan brand have been dominant in the US footwear market for years, but…