Nike's wholesale business is gaining traction while its direct channel contracts. Wholesale revenues rose 4% in the fourth quarter to $6.6 billion, driven by growth in North America. Nike Direct revenues dropped 7% to $4.1 billion, with NIKE Brand Digital sales sliding 12% and company-owned stores down 7%. CEO Elliott Hill said Nike made structural improvements to lay the groundwork for long-term growth, though he acknowledged the company continues to face top-line headwinds.
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