Analyst: Nike's performance in the second quarter did not convince investors of its recovery.

eToro analyst Farhan Badami stated that Nike's performance in the second quarter did not convince that its business was turning around. Badami said that although sales increased by about 1%, both profit and profit margin declined, reflecting the company's increased pricing pressure and ongoing channel mix shift. He expressed that the recovery seems to be only partial, and key categories such as basketball and sportswear have not shown sustained improvement. Badami said, "The performance results highlight that there is still a lot of work to be done in the future." The stock price fell 10% after hours.