While everyone focused on the scorching weather in Paris and New York—people, there are other things to discuss—it was a quiet week of passages and transitions in the fashion industry. Nike’s fiscal fourth-quarter earnings landed as expected. Overall sales declined, weighted down by China and Converse. Yet C.E.O. Elliott Hill has never tried to disguise the scale of Nike’s rebuilding effort. On a Tuesday earnings call, Hill invoked the Knicks. “The championship wasn’t built on a single series or even in one season. It was built over time, through setbacks and steps forward, through relationships, and buying into a system where everyone knows their role,” he said. “The real story is everything it took to get there. And that’s exactly how we’re building Nike.”