Nike CEO: Company Must Regain Shelf Space Amid Intense Competition
Nike's Comeback Strategy: Nike is attempting a comeback under CEO Elliott Hill, focusing on innovation and rebuilding consumer trust after significant market value loss and competition from emerging brands.
Reorganization Around Sports: Hill has reorganized the company to focus on individual sports rather than product categories, aiming to enhance competitiveness against rivals like On Running and Hoka.
Challenges from Past Decisions: Analysts highlight that Nike's previous shift to prioritize direct-to-consumer sales over wholesalers led to a loss of market share, which the company is now working to regain.
Current Obstacles: Nike faces challenges such as clearing excess inventory and managing $1.5 billion in tariff-related costs while striving to innovate and improve sales.
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