The first shoe has dropped at Nike Inc. Last week, new chief executive officer Elliott Hill set out his vision for turning around the American maker of sneakers whose 'swoosh' brand logo is globally recognized and "Just do it" slogan remains among the most memorable for significant numbers. The world's biggest sportswear company has lost out to rivals after it prioritized selling through its own stores and website and did not deliver enough new products, relying instead on classic styles.
Hill warned that his efforts would be painful in the short term, with sales and margins in the current fiscal quarter expected to fall more sharply than in the previous three months. But he stopped short of getting all the bad news out of the way early, for example by writing off those out-of-fashion sneakers and lowering sales and earnings expectations for the coming years.
That looks like a missed opportunity, and it means the continued threat of a reset as Nike embarks on the difficult task of winning once more.
It has been obvious for some time what Nike should do. And Hill set out a plan to just do it.
この記事は Mint New Delhi の December 26, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint New Delhi の December 26, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
More workers are prioritizing mental health and some firms are adapting and offering holidays for staff to rest. But is it enough?
Last month, home beauty services start-up YesMadam, in a social media post, announced the layoff of 100 employees who confessed to \"being stressed\" in an internal survey.
How employees can thrive in a chaotic workplace
From embracing procrastination to more silence, a paradoxical mindset can help one thrive in a 'BANI' world
Warren Buffett prepares his middle child for the job of a lifetime
At Berkshire, Buffett has long said he wants his middle child, Howie, to succeed him as non-executive chairman
TikTok's founder Zhang has a formula for everything. Can it crack the Supreme Court?
As the court weighs a ban on the video-sharing app in the US, no one has more to lose than Zhang Yiming
A bond selloff is rocking the world. You might want to take the other side.
Wall Street is really worried about bonds. It might be time to buy some.
Adani to invest in Chhattisgarh biz
Industrialist Gautam Adani on Sunday called on Chhattisgarh chief minister Vishnu Deo Sai and announced an investment of ₹65,000 crore in the Adani Group's energy and cement projects in the state, officials said.
IBREL-Embassy merger approved
In a major relief to Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal National Company Law Appellate Tribunal (NCLAT) has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the National Company Law Tribunal (NCLT) order stalling the process.
India's Coal Imports Rise 2% in Apr-Nov
India's coal imports rose 2% to 182.02 million tonnes in the April-November period of the current fiscal year.
AIFs seek specific funds from govt
Alternate investment funds (AIFs) have sought from the government specific funds for investments in new-age, sunrise and deep-tech startups with a view to promote innovation in the country, an official said.
NFRA Plans Papers for Interactions
To enhance the quality and the level of interactions between auditors and companies’ audit committees, National Financial Reporting Authority (NFRA) chief Ajay Bhushan Prasad Pandey has said the watchdog plans to come out with six to seven papers having sets of questions that will cover various aspects of statutory audits.
