Nike orders miss estimates as competition heats up

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Nike Inc's future orders missed analysts' estimates for the third time in a row, as the world's largest footwear maker struggles with increasing competition from Under Armour Inc and a resurgent Adidas in North America. 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. The company has lost basketball sales to Under Armour since the latter poached Golden State Warriors player Stephen Curry in 2013.

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