Nike’s New CEO Blames Promotions for Declining Profits, ‘We Lost Our Obsession with Sport’

Rishabh Mishra | December 20, 2024

After Nike Inc. (NYSE:NKE) delivered its second-quarter earnings beating analyst estimates, its new CEO Elliott Hill rebuked his predecessor’s strategies and said that the athletic footwear and apparel brand was not maximizing its strengths. What Happened: Nike reported second-quarter revenue of $12.35 billion, beating analyst estimates of $12.13 billion. The company reported second-quarter earnings of […]