Hill is shifting Nike back to sports, a priority that was de-emphasized under its former CEO.
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“Nike, Jordan, and Converse teams will now come to work every day with a mission to create the most innovative and coveted product, footwear, apparel, and accessories for the
specific athletes they serve,” Hill said. “These sport-obsessed teams will create greater dimension and distinction for our three brands, will make us more competitive, and will accelerate our growth.”
In a note, Neil Saunders, managing director of GlobalData, said he has “some confidence” that Nike is “over the worst of things as far as profitability is concerned.”
Nike “remains the most significant brand in sportswear by a large margin,” Saunders wrote. “This means new growth does not come easily and that market share has to be constantly defended from other smaller players. It also underlines that Nike is a very relevant brand and, despite its problems, has a firm base from which to build.”