"Hill rejoined Nike as CEO on October 14, 2024, after a decadeslong career at the sportswear giant. The former president of consumer and marketplace, who retired from Nike in 2020, returned to lead the company through declining sales, slowing growth, and heightened competition from smaller brands. Nike shares jumped about 8% on the day Hill's appointment was announced in September. Hill seemed to start his term with a sprint. He called out the company's missteps and unveiled his strategy to change things."
"In March, Nike began its turnaround plan, which Hill calls its "win now" strategy. The effort has reoriented the company around sports from running to basketball, rather than gender or age. Several analysts, including two who spoke to Business Insider, say it's still early, but Hill's plan shows signs of restoring Nike's edge in running and retail. Some gave the brand's comeback a B because it's taking longer than they expected."
Elliott Hill returned as Nike CEO on October 14, 2024 to lead amid declining sales, slowing growth, and rising competition from smaller brands. He announced a March turnaround plan labeled "win now" that reorients the company toward performance sports, prioritizing running and basketball over segmentation by gender or age. Nike stock initially jumped about 8% on his appointment but later struggled, falling roughly 19% year over year. Fiscal 2025 sales declined 9% to $46.3 billion. Early indicators show gains in running and retail, but broader brand recovery and operating margin inflection remain unclear.
Read at Business Insider
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