Reported 5 days ago
Nike is initiating a turnaround under new CEO Elliott Hill after reporting mixed fiscal first quarter results, which included a 10% revenue drop and a 25% decline in earnings. With the company withdrawing its full-year sales guidance and facing challenges in North America and China, analysts believe the worst may be over for Nike, highlighting the brand's strong equity as a potential driver for recovery despite ongoing competition. The new leadership aims to address inventory pressures and reconnect with wholesale partners to strengthen the company's market position.
Source: YAHOO