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Nike's quarterly revenue misses estimates

Rivals Adidas, Under Armour gain ground after revamping brands

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Nike's business conditions are more favourable in China, where the sports giant is investing heavily.

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.

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