Nike's ads run with straplines including Greatness doesn't only exist in SW19, a clear reference to Wimbledon, which is hosting the Olympic tennis tournament; Greatness doesn't need its own anthem and greatness doesn't need a stadium. Press ads also will run in a number of national newspapers.
The squabbling sportswear rivals can't even agree on who's number one at the moment. 'I do not believe they are number one; this would be completely wrong,' says Hainer. 'Everyone debates the market share. I prefer to focus on what the consumer thinks and our momentum, coming from $40m [football sales in 1994] to $1.5bn, speaks for itself,' retorts Charles Denson, president of Nike.

In its fourth quarter, adidas' sales grew by 13% in western Europe: that's an excellent effort in these becalmed times for retail. It appears that whilst adidas will clearly be winning market share, the build up to Euro 12 and the Olympics is going well and adidas is clear that its investment focus will be these two tournaments.Last time we heard from Sports Direct, like for like was around 7% and we see no reason why that would have ebbed away of late.The shares have shown some weakness in recent days but this could offer an opportunity. The PE is just over 11 times and momentum in sales and forecasts is strong. We continue to place Sports Direct at the top of our buy list.