Pins matching tag:"Elliott Hill"

Six years after pulling out in 2019, Nike confirmed it will again sell its products directly to Amazon for the US store, part of Elliott Hill's push back into wholesale and marketplace partners.

Nike's fourth-quarter revenue fell 12% to $11.1 billion and diluted EPS sank 86% to $0.14 in the quarter it called the biggest hit of its Win Now turnaround, and it estimated new US tariffs would add about $1 billion of gross costs in fiscal 2026.

Elliott Hill told staff that Aaron Cain, a 21-year Nike veteran who ran Nike Men's globally, would succeed Jared Carver as chief executive of Converse, whose sales fell 19% to $1.7 billion in fiscal 2025.

Nike confirmed on 28 August 2025 that it would lay off less than 1% of its corporate staff as CEO Elliott Hill reorganised teams around sports rather than men's, women's and kids', with affected staff told by 8 September.

Nike's first-quarter revenue rose 1% to $11.7 billion against its own forecast of a mid-single-digit fall, but it raised its fiscal 2026 tariff estimate to $1.5 billion and guided holiday-quarter sales lower.

Elliott Hill renamed Nike's roughly 400-acre Beaverton headquarters the Philip H. Knight Campus in honour of the co-founder, announcing it in an all-staff email on his first anniversary as chief executive.

Elliott Hill named supply-chain chief Venkatesh Alagirisamy EVP and chief operating officer over technology and operations, eliminated the chief commercial and chief technology officer roles, and put Nike's four geography leaders on the senior leadership team.

Nike's second-quarter revenue edged up 1% to $12.4 billion on North American wholesale growth, but Greater China sales fell 17%, tariffs cut gross margin by 3 points and the shares fell more than 10% the next morning.

Apple chief executive Tim Cook, Nike's lead independent director, bought 50,000 Nike Class B shares at a weighted average $58.97 on 22 December 2025, days after Nike's second-quarter report sent the shares down, taking his holding to 105,480 shares.

Elliott Hill moved APLA chief Cathy Sparks to lead Greater China as Angela Dong leaves, named César Garcia to succeed retiring Carl Grebert in EMEA, and made Crissy Campbell interim head of APLA.

Nike's third-quarter revenue was flat at $11.3 billion and tariffs cut gross margin to 40.2%, but it guided fourth-quarter sales down 2% to 4% with Greater China down about 20%, sending the shares lower after hours.

Nike lead director Tim Cook bought another 25,000 Nike shares at about $42.43 on 10 April 2026, and CEO Elliott Hill and directors Robert Swan and John Rogers Jr. also bought that week, after the third-quarter outlook sent the stock sharply lower.

Nike COO Venkatesh Alagirisamy told staff on 23 April 2026 that about 1,400 global operations roles, mostly in technology, would go as Nike reshapes its tech team, modernises Air manufacturing and moves some Converse footwear work.

Nike hired Pfizer finance chief David Denton as EVP and chief financial officer from 17 August 2026, replacing Matt Friend, and warned in the same release that fourth-quarter results would include an unplanned benefit from tariff refunds.

Nike's fourth-quarter gross margin jumped to 49.2% and EPS to $0.72 on the expected recovery of $986 million of IEEPA tariffs struck down by the Supreme Court, while revenue slipped 1% to $11.0 billion and Greater China fell 12%.

Elliott Hill named Jane Ewing, interim CEO of Sam's Club China after almost 14 years at Walmart, as Nike's EVP and Chief Commercial Officer from 7 September 2026, over global sales and Nike Direct, reviving a role Nike scrapped nine months earlier.

Nike expanded its board to 12 and appointed Alexandre Arnault, 34, deputy chief executive of LVMH's Moët Hennessy and a former Tiffany and RIMOWA executive, as a director effective immediately.

Nike releases its first-quarter fiscal 2027 results after the market close on Thursday 1 October 2026, at about 1:15 pm Pacific, with a conference call at 2:00 pm Pacific.