Reported 1 day ago
Nike reported better-than-expected fiscal second-quarter earnings under new CEO Elliott Hill, with revenues of $12.35 billion surpassing forecasts. Despite a year-over-year decline, Hill aims to restore the brand's focus on sport and rebuild partnerships, as shares have dropped over 36% in the past year. The company plans to address excess inventory and enhance profitability while expecting further margin declines in upcoming quarters.
Source: YAHOO