Elliott Hill News

business4 days ago•4 min saved

Nike CEO Elliott Hill unveils 'Pace' restructuring as stock hits 12-year low

Nike CEO Elliott Hill announced a major operational overhaul called 'Pace' to address declining performance and a stock price at a 12-year low. The plan involves restructuring into three geographic regions, establishing a new campus in Bengaluru, India, and reducing workforce roles starting in 2027. While the company cites the need for agility and local responsiveness, Wall Street remains skeptical following a recent quarter of poor results and weak outlooks.

via Fox News|

#business #corporate-strategy #elliott-hill

business5 days ago•4 min saved

Nike’s 'Pace' Overhaul Sparks Sector Sell-Off as Rivals Tumble

Nike’s announcement of the 'Pace' restructuring plan, featuring layoffs and a new geographic operating model, has triggered a broad sell-off across the sportswear sector. While Nike shares initially dropped 3% after a mixed fiscal Q1 report, subsequent declines of 10% followed as the company signaled high-single-digit revenue declines for 2027. The move aims to save $2.5 billion by fiscal 2031 but has spooked investors in rival companies, including Lululemon, On, Under Armour, and Deckers Outdoor.

via Footy Headlines|

#business #elliott-hill #market-volatility

business7 days ago•20 min saved

Nike CEO Announces 'Pace' Restructuring Amid Stock Slump

Nike CEO Elliott Hill announced a major operational overhaul called 'Pace' to address declining performance and a stock price at a 12-year low. The plan involves restructuring into three geographic regions, establishing a new campus in Bengaluru, India, and reducing workforce roles starting in 2027. While the company cites the need for agility and local responsiveness, Wall Street remains skeptical following a recent quarter of poor results and weak outlooks.

via Yahoo Finance|

#business #corporate-restructuring #elliott-hill

business7 days ago•21 min saved

Nike Q1 Earnings Miss and China Collapse Trigger 9% Stock Drop and New Layoffs

Nike reported a mixed fiscal first quarter, with revenue falling 4% to $11.21 billion and net income dropping 2% to $712 million. The company issued a weak full-year outlook, projecting high-single-digit revenue declines and adjusted earnings per share between $1.15 and $1.35. Shares fell approximately 9% in after-hours trading, extending a 40% decline this year. CEO Elliott Hill announced a restructuring plan called 'Pace,' which will result in layoffs starting in 2027 and aims to save $2.5 billion by fiscal 2031.

via Yahoo Finance|

#business #china #earnings

business7 days ago•16 min saved

Nike CEO Elliott Hill details 'Pace' restructuring, signaling 2027 layoffs and $2.5B in savings

Nike CEO Elliott Hill announced a new operating model called 'Pace' on October 1, 2026, which will lead to layoffs starting in 2027. The restructuring aims to save $2.5 billion by fiscal 2031, consolidate geographies, and modernize the supply chain. This announcement coincided with a mixed fiscal Q1 report, where revenue fell 4% to $11.2 billion, driven by a 26% drop in China sales.

via WWD|

#business #earnings #elliott-hill

business8 days ago•1 min saved

Nike Announces 'Pace' Restructuring and Layoffs Amid Revenue Decline

Nike reported a mixed fiscal first quarter, posting revenue of $11.21 billion and earnings per share of 48 cents, slightly beating analyst expectations. The company announced a restructuring plan dubbed 'Pace' that will lead to layoffs starting in 2027 and aims to save $2.5 billion by fiscal 2031. Nike expects full-year revenue to decline by a high-single digit percentage, with shares falling 3% after the report.

via CNBC|

#business #earnings #elliott-hill