Nike’s Sales Fall, But Not as Much as Expected Under New CEO | Global News Avenue

Nike (slipSales reportedly fell from a year ago, but not as much as analysts expected. New CEO Elliott Hill Committed to design turnaround.

The sports apparel giant’s third-quarter revenue fell 9% year-on-year to $11.27 billion, although the figure exceeded the analyst consensus of visible Alpha. $794 million in revenue (54 cents per share) fell from $1.17 billion (77 cents per share) a year ago, a narrower decline than Wall Street expected.

The quarter that exceeded expectations represented Nike’s second CEO, Elliott Hill, who took over in October. Earlier this month, Oppenheimer analysts said Hill’s efforts to revitalize Nike seemed to be “Forming,” According to Foot Locker’s quarterly results (Florida), sells Nike clothing.

Nike’s shares rose about 2% in after-hours trading Thursday after the launch. Over the past 12 months, they have lost more than a quarter of their value through the closing ceremony.