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Nike's shares tumbled by approximately 9% after its third-quarter earnings report, following the sportswear group's soft guidance for the fourth quarter and CEO John Donahoe's statement that the company's comeback plan is taking longer than anticipated.
Wall Street analysts appear to be optimistic about Nike CEO Elliott Hill's turnaround strategies, suggesting that his efforts to revitalize the company are beginning to show positive results.
Nike's CEO, Elliott Hill, is traveling globally to meet with leagues, teams, and athletes in an effort to rebuild connections and drive a turnaround for the world's largest athletic-wear company.