Nike shares fall on US sales

Nike shares declined the most in almost six weeks after the firm squelched any hope of a quick turnaround at its ailing US operations.

The world’s biggest sportswear maker expects North American sales to decline again this quarter, following a 3% dip in the region last quarter. Nike’s Converse business also will drop in the current period.

The slump has forced Nike to rely more heavily on overseas growth, especially in China.