Pins matching tag:Converse

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 merged the Innovation, Design and Product teams of Nike, Jordan Brand and Converse into a single creation organisation under Phil McCartney, unveiling the Nike Mind, Project Amplify, Aero-FIT and Therma-FIT Air Milano platforms alongside it.

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.

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 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.