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Nike shares fell after the company reported disappointing sales and announced layoffs as part of a broader restructuring effort. The results mark what could be the worst year ever for Nike's stock, with the company continuing to struggle in China and in its core sneaker business. The retailer has been working to turn around its business and regain growth after a prolonged sales slump, and the latest quarter showed sales are expected to decline further, reinforcing investor concerns about the pace of its recovery.