New Nike CEO Faces Long Road to Refresh Brand

Sep 28, 2024 · On June 27, Nike stock closed the day at $94.19 per share. Then the company reported its fiscal fourth-quarter earnings, including a bad surprise: the long-dominant Oregon apparel giant cut its full-year guidance and warned it expects a 10% sales drop in its first quarter.

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New Nike CEO Faces Long Road To Refresh Brand

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New Nike CEO Elliott Hill: 'We Lost Our Obsession With Sport' - USA …

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Dec 20, 2024 · Nike's Q2 financial performance "largely met expectations," but net revenue fell 7.7% to $12.35 billion, which was less than the 9.41% drop analysts had expected, according …

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Nike CEO Says Sneaker Giant 'lost Its Obsession With Sport' - New …

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Dec 19, 2024 · Nike’s new CEO Elliott Hill warned of short-term pain as the embattled sportswear seller works to revive tepid demand for its brands. Shares of Nike surged 11% immediately …

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FAQs about New Nike CEO Faces Long Road to Refresh Brand Coupon?

Will Nike's new CEO turn the spotlight on sports?

Nike's NKE.N new CEO Elliott Hill warned of a long road to sales recovery for the sportswear giant, but the veteran executive's plan to turn the spotlight on sports like basketball and running, allayed some investor worries. ...

Does Nike need a new CEO?

Nike capitalized on a demand for classic styles such as the Dunk and Air Jordan 1. Now, the company needs to innovate, an analyst said. Jay L. Clendenin/Los Angeles Times via Getty Images Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO. ...

Who is Nike's new CEO Elliott Hill?

Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO. In the past few years, Nike relied too much on recycling old styles, an analyst told BI. Hopefully, the new hire will help Nike re-focus on a culture of innovation, he said. ...

Is Mr Hill the right person to fix Nike's product issues?

“Is Mr. Hill the right person to help fix Nike’s product issues?” asked Sole. “Mr. Hill has a strong reputation as a leader and has deep experience at Nike in sales, retail, marketing and geographies. However, we don’t believe Mr. Hill is considered a ‘product person.’ ...

Will Nike's new CEO use institutional knowledge?

With Hill, analysts are optimistic that the new CEO could use his wealth of institutional knowledge to put Nike back on track to innovating and telling great stories around its products. "I'm encouraged to see an insider return to the CEO role," Jim Duffy, a Nike analyst for Stifel Institutional, told Business Insider. ...

How did Nike's stock perform in 2024?

The market responded harshly— Nike's stock fell 48% over the last three years. In June 2024 alone, the stock dropped 14%, wiping $28 billion off its market cap. Elliott Hill, who returns after a brief retirement in 2020, brings a wealth of experience. ...