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Net income was down two per cent compared to last year – $712m from $727m – and revenue dropped four per cent to $11.2bn, spearheaded by regression in China, a market which saw a comparative decline of 26 per cent.“Despite that progress, our Nike performance business is not yet large enough to offset the pressure we’re seeing in Nike Sportswear, Jordan Brand, and Greater China,” chief Elliott Hill told analysts. “We’re taking deliberate actions to strengthen those businesses, but realising the full benefit of those efforts will take time.”It comes after Nike, Adidas and 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The drop came after faster-than-expected inflation in Japan raised expectations that its central bank will hike interest rates.Strategy : The crypto-hoarding company gained 3% ahead of the opening bell as bitcoin rose back above $86,000. 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