LONDON (Reuters) -Nike’s new CEO Elliott Hill got a vote of confidence from one of its largest customers, British sportswear retailer JD Sports, whose finance chief said Nike was “doing all the right things” to revive demand. Hill, who was with Nike for more than three decades, returned as CEO in October to lead a […]
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Britain’s JD Sports says Nike ‘doing all the right things’ to lift sales
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LONDON (Reuters) -Nike’s new CEO Elliott Hill got a vote of confidence from one of its largest customers, British sportswear retailer JD Sports, whose finance chief said Nike was “doing all the right things” to revive demand.
Hill, who was with Nike for more than three decades, returned as CEO in October to lead a turnaround at the firm which had been struggling with strategy missteps that soured its relations with retailers.
Under Hill, Nike has been investing in its running shoe and sneaker lines to reclaim lost ground in the segments, while rekindling relationships with retailers.
“We think Nike are doing all the right things in terms of resetting the business,” Dominic Platt, JD Sports’ chief financial officer told reporters on Wednesday after the group reported first half results.
Nike products make up about 45% of JD Sports’ sales.
Platt said new products from Nike were “resonating well” with customers, highlighting the Vomero, Pegasus and P-6000 running ranges.
(Reporting by James Davey; Editing by Bernadette Baum)