(Reuters) -Nike ( NKE ) reported a smaller-than-expected drop in fourth-quarter revenue on Thursday, helped by demand for its newer products as well as discounts on its legacy sneaker lines.

To claw back lost ground in the running space, Nike ( NKE ) has invested in running shoe and sneaker lines such as Pegasus and Vomero, and cut its stock of older models such as the Air Force 1 and Air Jordan 1 through discounts.

Under CEO Elliott Hill, Nike ( NKE ) has also rekindled relationships with wholesale partners, expanding its presence at more physical retailers, and started selling on Amazon.com for the first time in six years.

The company's fourth-quarter revenue fell 12% to $11.10 billion, compared with analysts' expectation of a 14.9% drop to $10.72 billion, according to data compiled by LSEG.

The company's shares were up about 2% in choppy extended trading. They have fallen about 19% so far this year.

(Reporting by Juveria Tabassum in Bengaluru; Editing by Shinjini Ganguli)