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.
