Nike's Turnaround Efforts Under CEO Hill Face Investor Skepticism Amidst Declining Sales

Economic Times Markets · stocks

Nike's attempts to reverse years of product missteps and rebuild momentum under CEO Elliott Hill are facing significant investor doubt. Despite efforts to restore wholesale relationships and refocus on sports, the company's market value and earnings have declined sharply. Nike recently announced further job cuts and projected steeper-than-expected sales and profit drops for the fiscal year ending May 2028. Challenges persist in key areas like China and lifestyle products, with significant savings from the overhaul not expected until fiscal years 2029 and 2030.