Nike is running out of time to prove its China playbook works. The U.S. sportswear giant's sixth straight quarterly sales decline in the country - including a 20% drop in footwear - underscores how a market once seen as a growth engine has become its biggest pressure point. CEO Elliott Hill admitted on Thursday's post-earnings call that "it's clear we need to reset our approach to the China marketplace," which accounts for roughly 15% of revenue. Nike's struggles in China are longstanding, and investors were never expecting a quick return to growth. But Hill's aggressive push to refresh product offerings and cut legacy lifestyle lines has not shown even the slow, steady progress investors had hoped for.