Nike is continuing its efforts to turn the tide, as the sportswear giant deals with another disappointing quarter.

Sales in Europe, the Middle East, Africa, and Greater China all fell in the three months ending February 28. Nike said this was offset by growth in North America.

This led Q3 revenues to end on $11.3 billion, a three per cent decline year-on-year. At the same time, gross margin decreased by 130 basis points to 40.2 per cent. Revenues for its Converse business were $264 million, down 37 percent on a currency-neutral basis.

“This quarter we took meaningful actions to improve the health and quality of our business,” president and CEO Elliott Hill said. “The pace of progress is different across the portfolio, and the areas we prioritized first continue to drive momentum.

“The work is not finished, but the direction is clear, our teams are moving with focus and urgency, and our foundation is getting even stronger to build the future of Nike.”

CFO Matthew Friend added that he is “confident” that the company will return to profitable growth in the future.

Following the release of its results, Nike’s shares fell by more than nine per cent during extended trading.