Nike Finally Thwarts Adidas Threat in U.S. With Shares Hitting a Record
- Sportswear giant reverses three quarters of U.S. contraction
- Rival Adidas had been grabbing market share in North America
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After several quarters on the bench, Nike Inc. has finally healed the damage inflicted by Adidas AG.
Nike increased sales in North America for the first time in a year, after its smaller European rival had been outmaneuvering the sneaker giant on its home turf. Nike’s improved performance, sparked by new products and a smartphone shopping app, unleashed a slew of praise from Wall Street analysts. The stock surged as much as 13 percent to a record high in Friday trading.