US sportswear giant Nike has announced it will eliminate about 1,400 jobs worldwide as part of broader changes within its Global Operations team, with the majority of the reductions affecting roles in the technology division.

Nike (NKE) posted better-than-expected results for its fiscal third quarter, reflecting progress in its turnaround under CEO Elliott Hill, though challenges in China weighed on overall performance.

Nike’s struggles in China are intensifying, as operational missteps collide with fierce domestic competition and weakening consumer demand, raising concerns about the company’s execution in one of its most important markets.

Nike shares edged higher on Wednesday after Apple CEO Tim Cook disclosed a nearly $3 million purchase of the sportswear company’s stock, according to a regulatory filing.

Nike shares fell 10.5% in pre-market trading on Friday as investor concerns over the company’s weak performance in China overshadowed better-than-expected earnings for the fiscal second quarter.

Caitlin Clark has become a standout in women’s basketball, not only for her performance on the court but also for her massive market appeal off it.

Nike’s new CEO, Elliott Hill, has received a vote of confidence from one of its largest customers, British sportswear retailer JD Sports. The retailer’s finance chief praised Nike for taking the right steps to revive demand.

George Raveling, a trailblazing college basketball coach and longtime Nike executive who helped bring Michael Jordan to the brand, has died at the age of 88 after a battle with cancer, his family announced Tuesday.

Nike (NKE) stock surged more than 9% in premarket trading on Friday after the company reported that its profit and sales declines are expected to narrow in the current quarter.

Nike will continue to design and manufacture NBA, WNBA and G League uniforms and on-court apparel through 2037.