Nike's new CEO said the company messed up 3 key areas that he's trying to fix — and it's bad news for customers who like cheap stuff [Business Insider]
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Source: Business Insider
The company will also focus on five areas: running, basketball, training, football, and sportswear. Nike's new CEO said that two months into the job, he's working hard to fix three key mistakes that the sneaker maker has made in recent years. Hill rejoined the company in October as chief executive after retiring from his post as president of marketplace and consumer in 2020. He's a true insider, having worked his way up from an apparel sales representative intern in 1988. His post came at a crucial time for Nike, which has been struggling with lackluster sales and dealing with the backlash of trying to sell directly to consumers instead of through marketplace retailers. The company's stock is down more than 36% in the last year. On Thursday, the company reported revenue of $12.4 billion, down 8% from the year before, for the three months ending November 30. On Thursday's earnings call — Hill's first in the new job — he highlighted three mistakes he's trying to amend: 1. B
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- Nike's new CEO plans to go back to basics in brand overhaul effort [Yahoo! Finance Canada]Yahoo! Finance Canada
- Nike's new CEO plans to go back to basics in brand overhaul effort [Yahoo! Finance]Yahoo! Finance
- 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]Yahoo! Finance
- Nike beat low expectations as investors look for turnaround under new CEO Elliott Hill [Yahoo! Finance Canada]Yahoo! Finance Canada
- Nike beat low expectations as investors look for turnaround under new CEO Elliott Hill [Yahoo! Finance]Yahoo! Finance
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- 11/18/24 - Form 4
- FL's page on the SEC website