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Stock impact report

Nike's New CEO Admits the Brand Has Been Competing With Its Partners, Pledges to Fix Relationships With Foot Locker, JD Sports and More [Yahoo! Finance]

Foot Locker, Inc. (FL) 
Last foot locker, inc. earnings: 2/28 06:45 am Check Earnings Report
Company Research Source: Yahoo! Finance
Hill, who replaced John Donahoe as CEO in October, said in a call with analysts on Thursday that re-earning the trust of the company's wholesale partners is a top priority to help realign business as a whole. Nike's decision to exit several wholesale doors in 2021 has kept the company behind competitors that have achieved controlled distribution in crucial channels like run specialty. Now, Hill must build on recent efforts to bolster wholesale sales and reengage key partners. More from Footwear News Nike Stock Jumps After Better-Than-Expected Results Under Elliott Hill's Turnaround Plan Shoes For Crews Names New CEO to Lead the Company's Next Steps Hill acknowledged that this strong focus on Nike's digital sales over the last few years has led the brand to compete with its own retail partners for consumer demand. “Some partners and channels feel we've turned our back on them and we've stopped engaging consistently,” Hill said, adding that he has met with many of these key r Show less Read more
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