Nike CEO Elliott Hill described the company as being in "cleanup" and "reset" modes during an NBC "Today" show interview. Hill stated strategic shifts caused the brand to lose focus. The company now prioritizes athletes and customers.
Hill expressed caution regarding passing tariff costs to consumers. This approach supports a marketplace reset to improve sales quality. Nike aims to reduce reliance on promotions.
The strategy focuses on clearing excess inventory. Nike plans higher-impact product launches to restore a full-price sales model.
Sanford C. Bernstein reiterated a "buy" rating for Nike stock on May 11.