Elliott Hill faces a challenging landscape as he steps in as Nike's new CEO, with a 10% revenue decline and a need for innovative strategies.
Nike's earnings call revealed a shift towards becoming more of a running-focused brand, intentionally reducing retro styles that have characterized their sales.
"Newness and innovation" will be critical as Hill transitions into his new role, with the company aiming to regain market momentum amid challenges.
Matthew Friend emphasized, "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."
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