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Nike's strategic realignment around key sports like running and basketball is showing positive results. The sportswear giant reported a smaller-than-expected 1% currency-neutral sales decline in its latest quarter. Improved performance in its wholesale and running shoe divisions, previously underperforming, contributed to sales of $11.7 billion, exceeding Wall Street's projection of $11 billion. This indicates the company's turnaround efforts are beginning to gain traction.

Prepared by Christopher Adams and reviewed by editorial team.