Nike's New CEO Elliott Hill Charts Multi-Year Turnaround Plan

Elliott Hill aims to refocus Nike on sports and premium pricing, while addressing declining sales and strained retailer relationships.

Nike CEO Elliott Hill, who took over in October, announced a comprehensive plan to restore the company's focus on sports and innovation after years of declining sales and market share.
Hill criticized Nike's overreliance on promotions and discounts, pledging to emphasize full-price sales and reduce markdowns to protect the brand's premium image and profitability.
The company plans to prioritize five key categories—running, basketball, training, football, and sportswear—while addressing weaknesses in its product pipeline and fostering athlete-driven design and storytelling.
Hill is working to rebuild relationships with wholesale partners like Foot Locker and Dick's Sporting Goods, which had been strained under Nike's prior direct-to-consumer strategy.
Despite beating Wall Street's Q2 earnings estimates, Nike forecasted further revenue declines in the short term, with analysts predicting a multi-year recovery process for the sportswear giant.