Nike CEO Elliott Hill said the apparel company is “in a cleanup mode” and in “reset mode” as it aims to be set up for the next 40 years. Hill, talking on NBC’s “Today,” said the brand seemed to lose its way over “a couple strategic shifts that happened that COVID didn’t help. Where we make mistakes is when we forget who we’re serving. We’re serving customers. We’re serving athletes.” Noting the current affordability crisis in the U.S., Hill said the company is watching affordability “all the time,” noting Nike has been “really cautious and thoughtful about when and how we take price increases for our consumer.” Hill, who previously said Nike is anticipating $1.5B per year in tariff-related spending, said the company is trying to cover some of that with price increases and other things with partners on the wholesale side of the business and then “also from manufacturing.” Hill: “But it’s tough to cover that all at one time.” He said Nike was “thoughtful” about how much got passed down to the consumer. When Hill was hired as CEO, he gave out his personal email address to all employees if anyone had any questions for him. He noted it was “crazy how many emails” he received, noting he responded “to every single one” (“Today,” NBC, 5/11).
Elliott Hill joins ‘Today’ to talk Nike turnaround efforts
