Dhaka, March 20 -- Nike is expected to post its steepest revenue decline in nearly five years in its quarterly results on Thursday, as its new products failed to open the wallets of Americans reluctant to snap up non-essential items like sporting goods and clothing.

Downloads of Nike mobile apps for the quarter were down 35% from a year earlier, according to market intelligence firm Sensor Tower. Foot traffic at Nike stores was down 11%, according to data compiled by Raymond James, reports Reuters.

Foot Locker, a major Nike retailer, disclosed in its earnings March 5 that promotional pressures would hurt its profit margins in the year ahead. This signaled the impact of discounts imposed by Nike to clear out unsold inventory.

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