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Nike is the world’s biggest sporting goods company in terms of market value, revenues and profits, but nearest rival Adidas has recently surged ahead in terms of stock performance. Adidas has seen a 19.7% increase over the past month and 82% over the past year compared with 0.3% and -4.3%, respectively for the US giant.
That’s because the German company has reported stronger revenue and profit growth and given a more positive outlook than Nike. In particular, Adidas has started to make better progress in a major global market in which it has traditionally lagged: Nike’s own market in the US. The German company is stealing market share from its rival.