Nike's turnaround struggle tests investor faith in CEO Hill

Nike continues to struggle under CEO Elliott Hill, who was brought back from retirement to stabilize the sportswear giant. Despite efforts to rebuild retailer relationships and refocus on sports products, the company reported declining revenue and announced fresh job cuts.

Nike has projected further sales and profit declines for the upcoming fiscal year, signaling challenges in executing its turnaround strategy. The company is also grappling with performance issues in key markets, particularly China, adding pressure on investor confidence in Hill's revival plan.