Post by Akriti Shah

Nike shares slipped nearly 4% in premarket trading on Wednesday, as investors fretted over the slower-than-expected turnaround at the world's largest #sportswear ​maker, nearly two years after Elliott Hill took the helm to revive growth. While the company posted a ‌modest beat in fourth-quarter revenue on Tuesday, sales in #China slumped 17%, and it expects sales to continue to decline in the first half of fiscal 2027, underscoring the uneven nature of its recovery and raising doubts about the pace of its #turnaround ​strategy. Nike has been struggling to regain momentum after losing market share to rivals such as Anta, Li Ning, and ​Hoka. The stock has already fallen about 35% this year. Nike expects sales in China to remain under pressure as it works with retail partners to clear excess inventory, outgoing finance chief Matthew Friend said. Story with Savyata Mishra Read more at Reuters https://lnkd.in/gx5xSFh4 #Nike #NikeSportswear #economics #Sports #Reuters #BreakingNews #WorldNews #Journalism #GlobalNews #BusinessNews #MarketUpdate #CorporateNews