Nike’s ‘Win Now’ Plan: Running Backwards Since 2024
Elliott Hill rejoined Nike as CEO on October 14, 2024, to fix the sportswear giant’s epic 10% revenue drop to $11.6 billion and salvage a stock sinking 19%, despite an initial 8% hype spike. After retiring in 2020 and then returning like a boomerang, Hill declared war on Nike’s retro obsession with Dunks and Air Force Ones, aiming to revive running and basketball dominance instead of selling nostalgia. His ‘win now’ strategy realigned 8,000 employees, doubled down on sports, cut discounts to feel fancier, and mended bruised wholesaler relationships—like patching things up with Foot Locker and even flirting back with Amazon. Running biz grew 20%, but the stock’s still jogging behind competitors like Adidas, down only 15%. The ladies got some love with a Super Bowl ad starring female athletes and hot sales from collabs with WNBA stars A’ja Wilson and Caitlin Clark, plus a NikeSkims launch trying to dethrone Lululemon’s yoga kingdom. Goldman Sachs still wants more proof, but hey, at least Elliott’s trying his best on this weird corporate marathon!
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Nike’s CEO Elliot Hill runs fast, stocks crawl slow—19% down despite 20% running biz jump. Meanwhile, investors still tired, waiting for ‘win now’ to catch up to ‘what now?’
Nike said ‘win now’ but forgot to check if the race was time or tortoise style. Spoiler: tortoise winning and investors napping.
Elliott Hill retires in 2020, returns 2024 to fix Nike’s nosedive. It’s like Batman returning because Robin's been on a... very long lunch break.
Source: Businessinsider | Published: 10/14/2025 | Author: Jordan Hart
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