eToro analyst Farhan Badami said Nike's second-fiscal quarter results were far from convincing that its business was improving. Badami said that although sales increased by about 1%, profit and profit margins both declined, reflecting the company's increased price reduction efforts and continued transformation of the channel mix. He said that the recovery appears to be only partial, and key categories such as basketball and sportswear have yet to show continued improvement. Badami said, “The results highlight that there is still a lot of work to be done. “The stock fell 10% after the market.

eToro analyst Farhan Badami said Nike's second-fiscal quarter results were far from convincing that its business was improving. Badami said that although sales increased by about 1%, profit and profit margins both declined, reflecting the company's increased price reduction efforts and continued transformation of the channel mix. He said that the recovery appears to be only partial, and key categories such as basketball and sportswear have yet to show continued improvement. Badami said, “The results highlight that there is still a lot of work to be done. “The stock fell 10% after the market.