Nike Inc posted its futures orders that came up short of analyst expectations. That helped to renew concerns that the athletic apparel and sneakers maker cannot maintain strong growth due to increasing competition.

The future orders, a key metric for the amount of demand for the Nike brand, increased by only 1% across North America through August 31, showed a statement on Tuesday released by the company.

Analysts were expecting an increase of 5%. The figure follows products that are scheduled for delivery from September through January.

One analyst said that the slowdown across North America was worse than had been expected.

The increased competition in the market from Under Armour and Adidas has hurt the largest athletic brand in the world during 2016, with slowing growth in sales in its own backyard.

That has hit the stock hard, which could see its first decline for a year since 2008. Futures orders missed estimates as well in China.

Shares dropped by up to 5% in late Tuesday trading following the release of the results, They were down over 11% for the year, through the close of trading Tuesday.

Earnings nonetheless topped estimates of analysts last quarter, but were helped from a tax benefit. The Internal Revenue Service resolved a credit matter related to foreign tax that reduced the effective tax rate for Nike to 2.5%, in comparison to over 18% the previous year.

Nike posted 73 cents per share profit, compared to projections by analysts that averaged 56 cents. Nevertheless, there were signs under the surface that were troubling, said analysts.

Nike’s gross margin came up short of estimates by over 100 basis points, which suggests the company was relying more heavily on higher discounts to drive growth.

Less earnings prior to interest and taxes were generated by the company during the just ended quarter, with that profitability measure dropping by 11% to just over $1.27 billion.

Nike’s net income was up 5.9% due to the tax bill being lower, while revenue was up 8% to over $9.1 billion.

The company’s sale forecast was reconfirmed for the full year that ended in May.

Nike said orders are not a proxy for its revenue and remains fully confident that North America would remain a strong region, with sales annually growing at a percentage in the high single digits through the end of 2020.

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