Nike's Latest Quarterly Report Is Above Estimates but American Sales Are Still Falling

With adidas eclipsing Jordan Brand and gaining on Nike in the North American sportswear market, it has been a rocky few months for the Portland-based brand. The latest in bad news for Nike is that American sales are still falling, with a decrease of 3% over the past quarter. This puts the brand in stark contrast to adidas, with the German label reporting a 29% rise in North American sales. Due to this worse-than-expected performance, Nike's stock price is set to hit $51.76 USD, which would wipe ...