Rivals make it a tough year for Nike

Nike Inc is finally getting scuffed up.

One of the longstanding darlings of Wall Street - praised for its advertising clout and product innovation - has had a rough year. The shares are down 13 percent in 2016 as analysts and investors fret over market-share losses to Adidas AG and Under Armour Inc in the United States, its largest region.

Nike had been rolling since the recession - even in the face of challenges from Adidas and Under Armour - with the stock averaging annual gains of 26 percent over the past seven years. But 2016 has been a different story, with its shares sinking while the broader market hits record highs. On one flank, Under Armour has attacked its lucrative basketball-shoe business with the success of its Stephen Curry line. On the other, Adidas has drawn away some of its casual business by teaming up with rapper Kanye West and reinvigorating retro styles like Superstar. The German company also has taken a page from the Nike playbook and turned Boost, a performance running-shoe line, into a monster lifestyle hit.