Nike misses estimates as competition hots up

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 North America as at Aug 31, according to a statement on Tuesday from the Beaverton, Oregon-based company. Analysts had projected a 5 per cent gain. The figure tracks products that will be delivered between September and January.