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.

Nike shares declined the most in almost six weeks after the firm squelched any hope of a quick turnaround at its ailing US operations.

Nike shares rallied the most in almost two years yesterday after the athletics brand delivered a rosy forecast and announced plans to forge a closer relationship with shoppers, a move that will let Amazon and Instagram users buy its runners directly.

Nike plans to cut 1,400 jobs and reduce the number of its trainer styles on offer by a quarter under restructuring plans.

The new boss of Adidas increased sales and profit targets yesterday, sending shares in the German sportswear firm to a record high as he pledged to keep investing heavily in the key US market and do more to boost ecommerce sales.

Shares in Callaway Golf jumped as much as 8.5% in New York trading after Nike announced plans to abandon the golf-equipment market, removing a competitor from the industry.

Nike shares rose yesterday despite the sporting goods giant’s quarterly revenue growth and its forecast for orders missing analysts’ estimates and underscoring its struggle to fend off competition from Adidas and others, especially in its home turf of north America.

The race to run the world’s biggest sports brand is now a three-way contest.

Adidas, Nike, and Puma will be relying more on individuals to sell football boots, shirts and accessories during Euro 2016 over the coming month.

Forget about slipping out of your shoes because of loose laces or feeling pressure from too-tight tying when doing those sprints.

"We no longer have a relationship with Manny Pacquiao."

IAAF president Sebastian Coe has quit his role as an ambassador for Nike.

Bjorn Eriksson, leader of Gothenburg’s 2021 bid, said: “It smells and needs to be investigated”.

Nike has said that its sales in China have been "amazing" over the past quarter.

Nike chairman Phil Knight, who turned a business selling shoes out of the back of his car into the world’s most valuable sports brand, is to step down as company chairman.