Shares of Nike (NKE.N) rose on Wednesday as investors assessed CEO Elliott Hill’s efforts to revive growth, though the sportswear giant’s persistent sales slump in China and weak outlook continue to keep Wall Street on edge.
“The Nike turnaround is progressing slowly,” Telsey Advisory Group analyst Cristina Fernandez said, adding that sales trends remain weak in large parts of the business such as sportswear and in international markets, and are unlikely to rebound before fiscal 2028.
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