Nike CEO says the company needs to earn back shelf space in the face of stiff competition

Core Insights - Nike is attempting a comeback as it currently trades at less than half of its pandemic-era market valuation, having experienced its worst trading day last year, which resulted in a loss of $28 billion in value in a single session [1] Company Strategy - CEO Elliott Hill emphasizes a strategy focused on innovation, sport, and rebuilding consumer trust after years of slowing growth and increased competition [2] - Hill has reorganized the company to focus on individual sports rather than product categories, aiming to enhance competitiveness against emerging rivals like On Running and Hoka [3] Market Challenges - Analysts highlight that Nike's previous lack of product innovation and reduced presence in wholesale channels allowed competitors to gain market share, which was identified as a strategic mistake [4] - The company faces intense competition and is working to reclaim shelf space while also dealing with challenges such as excess inventory and $1.5 billion in tariff-related costs [5]