"The pace of progress is different across the portfolio, and the areas we prioritized first continue to drive momentum, said CEO Elliott Hill in the earnings press release."
"There is both an art and a science to seeding, igniting, and scaling new sportswear styles, Hill stated, emphasizing the strategic shift in Nike's approach."
Nike's third-quarter earnings for fiscal year 2026 showed flat revenue at $11.3 billion, leading to an 8% drop in shares. CEO Elliott Hill acknowledged the turnaround plan is taking longer than expected, though he remains confident. Running is the leading category for growth, while other segments like Greater China and Converse are still recovering. Digital sales fell 9% due to excessive promotions, and sportswear revenue declined. The company is focused on cleaning up inventory and shifting from defense to offense in its strategy.
Read at www.businessinsider.com
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