Nike Shares Slide as Sales Slump. Can the New CEO Help the Stock Rebound?

A turnaround is unlikely to happen overnight.Nike (NKE 0.18%) shares sank after the athletic apparel and footwear company reported disappointing sales and pulled its guidance for the year. The stock is now down more than 20% year to date.The company also delayed its upcoming investor day as its new CEO is gearing up to take over later this month and lay out his plan for helping turn around the company. Let's take a closer look at Nike's most recent quarterly results and see if its new CEO can implement a pl ...