Nike’s shares dropped sharply Friday as investors questioned CEO Elliott Hill’s turnaround strategy after the company warned of a deeper sales decline.

Nike reported a 9% drop in holiday quarter sales, including a 17% slump in China, and projected mid-teens percentage declines for Q4, worse than expected.

The company blamed weak demand, new China tariffs, and external uncertainties.

Nike is reversing past retail strategies, bringing back third-party sellers and accelerating sneaker launches, the New York Post has reported.

Hill is also expanding into new markets, including a women’s activewear line with Kim Kardashian’s Skims, but results have yet to materialize.

Written by B.C. Begley