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Analysts say Under Armour, Adidas 'chipping away' at Nike

Analysts say Under Armour, Adidas 'chipping away' at Nike

While Nike reported Tuesday that its revenues increased 8 percent in the quarter ending Aug. 31, analysts and the media focused on increasing competition from Under Armour and other rivals.

“Nike and its Jordan brand still command the lion's share of the U.S. footwear market, but rivals Adidas and Under Armour are chipping away at the company's decades-long dominant position,” said a Reuters report. “The company has lost basketball sales to Under Armour since the latter poached Golden State Warriors player Stephen Curry in 2013.”

Another news agency, AFP, wrote:

“Adidas appeared to gain advantage from its muscular presence in the Summer...