Nike Aims to Boost Growth by Clearing Old Inventory and Cutting Discounts 🏃‍♂️

Nike’s turnaround efforts under new CEO Elliott Hill face challenges as the company shifts its strategy to restore growth. Hill plans to move the online business back to full-price sales after liquidating old inventory through less profitable channels, addressing issues from excessive discounting. Hill criticized the previous focus on digital sales and sidelining wholesale partners, vowing to rebuild trust with key retailers such as Foot Locker and JD Sports. Nike exceeded Wall Street expectations for earnings per share and revenue in its fiscal second quarter of 2025.