Nike has pulled financial guidance, reporting a significant revenue drop of 10% to $11.59bn and net income down 28% to $1.05bn for the last quarter.
Analysts suggest that Nike has struggled to boost demand and regain market share in the face of fierce competition from brands like Hoka and On.
Matthew Friend stated: 'A comeback at this scale takes time, but we see early wins from momentum in key sports to accelerating our pace of newness and innovation.'
Elliot Hill, the incoming CEO, will have the flexibility to assess current strategies as Nike looks to reposition itself for future growth.
Collection
[
|
...
]