Under CEO John Donahoe, Nike pulled away from retailers and ramped up production of its classic sneaker lines. Now sales have plummeted, the company has lost market share to competitors and Donahoe is stepping down. WSJ's Inti Pacheco discusses what went wrong. Further Reading: -Nike CEO John Donahoe Stepping Down After Rocky Tenure -How Nike Missed the Boom in Running Culture -Nike Reverses Course as Innovation Stalls and Rivals Gain Ground Further Listening: -Nike’s Sneaky Sneaker Thieves -How Allbirds Lost Its Footing Learn more about your ad choices. Visit megaphone.fm/adchoices