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Germany might have beaten the U.S. in a World Cup game on Thursday, but American sportswear maker Nike NKE 0.51% says it is beating German rival Adidas and others off the field in stores thanks to the tournament.
Nike reported that global sales of its namesake products rose 13% last quarter, including an 18% jump in Europe, where the Beaverton, Oregon-based company has been eating away at its smaller competitor’s market share in its home market.
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Nike is now seriously challenging Adidas’ status as the world’s largest seller of soccer gear. (Nike had 14.1% of the global sportswear/footwear market compared to 9% for Adidas, according to Euromonitor.)
According to a Reuters report, earlier this week, Adidas CEO Herbert Hainer said that his company would reach its target of $2.72 billion in soccer gear sales in 2014 with the help of World Cup performances by the star players it sponsors, maintaining its lead over Nike’s $2 billion soccer haul.
