Nike's Sales Fall, But Not as Much as Expected as CEO Touts Progress in Turnaround Plan

Nike's (NKE) fiscal fourth-quarter sales and profits declined year-over-year, but not as much as analysts expected, as the company works on its turnaround plan.  The sneaker and sportswear giant’s revenue fell 12% year-over-year to $11.1 billion, though the figure topped the analyst consensus compiled by Visible Alpha. Net income of $211 million, or 14 cents per share, fell from $1.5 billion, or 99 cents per share, in the year-ago quarter, but also topped Street projections. The better-than-expected quarte ...