Nike’s China Conundrum Deepens as Turnaround Stagnates

Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 percent drop in footwear – underscores how a market once seen as a growth engine has become its biggest pressure point.

CEO Elliott Hill admitted on Thursday’s post-earnings call that “it’s clear we need to reset our approach to the China marketplace,” which accounts for roughly 15 percent of ⁠revenue.

Nike’s struggles in…