Nike shares stumble as rivals close gap in US race

With shares and confidence surging, Nike was on top of the world in 2015. The company was at an “all-time high,” chief executive officer Mark Parker said at an investor day that October.

He predicted sales would jump 63% by 2020 to total $50bn (€42.5bn) annually. “It’s clear that Nike is a growth company,” he said.

Two years later, his claim is anything but clear. Increased competition, led by Adidas, has knocked the world’s largest sports brand off course and muddied its outlook.