i think it would be best to contact PayPal as they can see the status of the refund since must be credited back to your original payment method which is your bank as what you have mentioned, meaning to say that it will be refunded amount will be posted on your account depending on your bank issuers refund policy. if the status of the transaction on your activity shows "refunded", you can wait for a couple of days because maybe it is still on its way to your account but if the status shows pending, there might be a problem on Nike's end as there is a possibility that PayPal failed to get the money from them.
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