Nike posts disappointing sales amid weak demand

Nike shares dropped on Thursday after the company reported weaker than expected sales for its fourth quarter.
The sportswear giant’s fourth quarter revenues hit$12.6bn (£9.6bn) down 2% and direct-to-consumer segment figures fell 8% to $5.1bn (£4.3bn). Revenues for the Converse brand were down 18%, due to declines in North America and Western Europe.
The announcement led to a sharp after-hours trading decline, with shares dropping more than 12%.
Nike president and CEO John Donah