Nike's Sales Fall, But Not as Much as Expected as CEO Touts Progress in Turnaround Plan
1. Nike's Q4 sales fell 12% to $11.1 billion, exceeding expectations. 2. Net income dropped significantly but was better than projections. 3. CEO Elliott Hill outlines a positive outlook for future business. 4. Nike's turnaround plan is currently impacting short-term sales. 5. Shares dipped 1% in after-hours trading, down 17% YTD.