Consumer
Nike’s Comeback Is Taking Shape as Sports Focus Pays Off
CEO Elliott Hill has tried to reset Nike by clearing out old inventory and reorganizing its corporate structure.
Photographer: Bing Guan/BloombergNike Inc.’s turnaround efforts are starting to pay off as the world’s largest sportswear company realigns the business around sports such as running and basketball.
The company said efforts to roll out new products, boost marketing efforts and clear out old inventory helped blunt a longtime sales slump — results that boosted Nike’s shares as much as 7% on Wednesday.