Latest news with #ElliottHill

Business Insider
2 days ago
- Business
- Business Insider
Nike salaries revealed: How much the retail giant pays designers, software engineers, and other tech workers
As Nike tries to mount a comeback and live up to its reputation as a dominant retail force, the sportswear giant appears to be investing in some tech and design jobs. Publicly available work visa data, which companies are required to disclose to the US Department of Labor, gives an idea of how much Nike's employees bring home and some of the roles it has invested in. Nike had about 890 open positions worldwide listed on its jobs board as of July 18. Current CEO Elliott Hill, who rejoined the company in October, has told investors that Nike is aligning its employees to focus on five key action areas: culture, product, marketing, marketplace, and connecting with consumers on the ground in their communities. That strategy plays into Nike's efforts to focus its marquee brands — Nike, Jordan, and Converse — on key sports such as running and basketball. "We are in the midst of realignment at Nike," Nike said in a statement to Business Insider. The realignment and sport strategy aim to "create sharper distinction and dimension" for its brands, the company said. Here's what some key Nike roles can earn based on data through the quarter ending in March. The salary data includes information from Nike Inc. and some subsidiaries, such as its retail services arm and Air Manufacturing Innovation division. It reflects US-based roles and, given it's based on H1-B visa disclosures, tends to skew more tech-focused. Data and engineering roles: Software engineers can earn more than $300,000 Software Engineer II: $156,641 to $172,780 a year Software Engineer III: $139,845 to $192,227 a year Data Engineering: $99,123 to $265,466 a year Data Analytics: $114,600 to $163,985 a year Materials Designer: $100,000 a year Senior Digital Product Designer: $126,617 a year Senior 3D Designer: $91,707 a year Manager roles: Managers can take home more than $270,000 Delivery Excellence, Uniform Operations Manager: $164,439 a year Product Manager: $154,577 to $204,753 a year Senior Program Manager: $147,434 a year
Yahoo
3 days ago
- Business
- Yahoo
Nike's Running Comeback: Why Retailers Say It's Real
Nike chief executive officer Elliott Hill told investors in the company's fourth-quarter fiscal 2025 conference call last month that the worst is now over. Net income and sales both declined again in the period, but based on Nike's 'Win Now' actions over the prior 90 days, Hill said: 'From here, we expect our business results to improve. It's time to turn the page.' Investors agreed, with Nike shares closing with a 15 percent increase the following day. More from WWD Will Smith Mixes Nostalgia With Modern Flair in Custom Air Force 1s on 'Based on a True Story Tour' Stop in Germany Jannik Sinner Wins Wimbledon in Nike's GP Challenge 1 Premium Tennis Shoes Ja Morant's New Sneaker Is Getting a Glow-in-the-Dark 'Zombie' Update for Halloween One spot where the numbers are already showing improvement is in running. Nike Running grew by 'high single digits' in Q4, and Hill called out the success of the Vomero 18, which has already grown into a $100 million franchise after launching at the end of February. Three specialty retailers who spoke with Footwear News all agreed: the Nike Running comeback is very much on. Chris Farley, owner and president of Pacers Running, said Nike is outpacing all of its other vendors, with a 20 percent growth in sales so far in 2025. With five stores in Washington D.C. and Northern Virginia, Pacers has seen the Vomero 18 become its top-seller. The story is the same for Philadelphia Runner and Heartbreak Hill Running Company, which has locations in Boston, Chicago and Santa Monica, Calif. 'I really liked the [Vomero 17], but we did not sell very many of them,' said Philadelphia Runner co-owner Ross Martinson. 'The new Vomeros are the best-selling Nike right away. The problem has been the men's (sizes), we haven't been able to get enough of them. But that's sort of a good problem.' The Vomero 18 has come in the early days of a streamlined new era for Nike Running focused on three franchises: Pegasus, Structure and Vomero. In order, the franchises are targeted toward responsive cushioning, supportive cushioning and maximum cushioning. Each banner gets three different silhouettes, starting with the numbered baseline model and offering upgrades through the Plus and Premium variants. The Pegasus is the only franchise to see all three of its models come to stores already with the Pegasus 41, Pegasus Plus and Pegasus Premium, the latter of which is Nike's first sneaker to ever feature a curved, full-length Zoom Air unit. Nike will follow up the Vomero 18, which uses a combination of ReactX and ZoomX foams, on August 7 with the Vomero Plus, which is boosted by a full ZoomX midsole. The Vomero Premium will then come October 2 with Air Zoom units at the forefoot and heel taking the max-cushioned proposition to the highest level. Heartbreak Hill Running Co. co-founder Dan Fitzgerald, who's also a Nike Running coach, said the Pegasus franchise has always sold well in his stores and credits the Swoosh with creating the super shoe. But outside of those areas, it's been more hit or miss for Nike Running in recent years. Anecdotally, Fitzgerald points to a personal friend who logs 10 miles a day and runs in On. Having enjoyed the Vomero 18 himself, he was curious what his friend would think of it. 'He put them on and he said, 'Yeah it feels pretty good.' Then I hit up a week later and he said: 'I'm actually blown away. That's my favorite shoe.' With only five of the nine sneakers from the Vomero, Pegasus and Structure lines having launched, it's still too early to tell what effect the relaunch will have on consumers. At the very least, though, the new dividing lines does it make it easier for retailers to explain to customers. 'Our staff really dictate the experience on the floor,' Farley said. 'I think [the shoes' purposes] are more clear. A simpler approach has been much better, so they're more comfortable bringing out, talking about features, benefits and all those things where they may not have been as clear in the past.' The new silos serve to replace the Infinity and Invincible, the purposes of which weren't quite as clear and were easy to conflate with each other because they have 'In' as prefixes. There is still some concern that the difference, for example, between a base and Plus model may not be quite as recognizable. 'The Vomero Plus looks awesome too,' Martinson said. 'I'm curious to see how that affects sales of he regular Vomero because it's kind of a different feel, but they still look fairly similar. So we'll see how that goes.' As promising as this year's returns have been for Nike Running, as well as the positivity of its forecast, it does indeed still have ground to make up in the sport. For runners who may go out just once or twice a week, as well as walkers and broader fitness enthusiasts, Farley said Nike still isn't winning that conversation. With those consumers, Brooks, Asics and Hoka still reign. And because the super shoe race has become so crowded, Martinson believes it will be more important than ever for Nike to win over the more casual runners and offer the best shoes that won't be used on race days. '[Nike has] dominated super shoes and still leads it, but where they were 90 percent of those sales, maybe they're going to be 50 to 60 [percent] going forward,' he said. 'So it feels like good timing for them. It certainly feels like a turnaround for Nike or a vibe shift.' Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Yahoo
11-07-2025
- Business
- Yahoo
Converse's New CEO Aaron Cain Is a 21-Year Nike Veteran
Nike's challenged Converse division has a new CEO. Aaron Cain, a 21-year Nike Inc. veteran, is taking over the top job at Converse. He succeeds Jared Carver, who is leaving the brand after two years as CEO. More from WWD Nike's Fan-Favorite 'Pine Green' Foamposite Is Officially Coming Back This Blue Big Bubble Nike Air Max 95 Could Be a Consolation if You Miss Out on the Levi's Collaboration Laura Slatkin Steps Back From Day-to-day Operations at Nest New York Bloomberg, which first reported the news, said the two executives will work together through the end of July as part of the transition period. Nike last month posted a 86 percent drop in fourth quarter net income to $211 million from $1.5 billion a year ago. Overall Swoosh sales fell 12 percent in the quarter to $11.1 billion from $12.6 billion. Converse, meanwhile, faced a more pronounced sales drop, declining 19 percent to $1.7 billion. 'Moving forward, we expect our business to improve as a result of the progress we're making through our Win Now actions,' president and CEO Elliott Hill said in a statement. Hill, who served in several leadership roles before retiring from Nike in 2020, returned to the Swoosh firm last October as CEO. Prior to the earnings report, Wall Street analysts were expecting that the sports apparel and shoe giant would likely need more time to effect a turnaround. Some of the more recent changes — a flurry of executive moves believed to be Hill's effort to 'accelerate' Nike's turnaround progress — include Tony Bignell's promotion to chief innovation officer, succeeding John Hoke, a 33-year Nike veteran who is retiring. In May, other promotions include Amy Montagne to Nike brand president and Phil McCartney to chief innovation, design and product officer. At the same time, the company disclosed that Heidi O'Neill, president of consumer, product and brand, will be retiring. And Tom Clarke, who was strategic advisor to the CEO and members of the senior leadership team, took on the new role of chief growth initiatives officer. Earlier in the year, Nike veteran Jennifer Hartley, who served as vice president of strategic enterprise capabilities, was named chief strategy officer. The Converse brand in May announced the return of the brand's collaboration with Isabel Marant. In general, the brand has been somewhat of an underachiever in terms of its revenue contribution to Nike over the years. That could change under new leadership as Cain takes over the top reins at the brand. Nike did not respond to a request for comment by press time. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]

Miami Herald
10-07-2025
- Business
- Miami Herald
Your favorite Nikes might be disappearing soon
I'll admit it...I'm a sucker for the classics. Give me a crisp pair of Air Jordan 1 Lows or Nike Dunks in a fresh colorway and I'm good. They're effortless, they go with everything, and they make you look put together without even trying. There's something about their shape, the colors, the nostalgia. They don't scream "look at me," but if you know, you know. And I'm not the only one who feels that way. These styles have had a stranglehold on streetwear and casual fashion for years. At one point, it felt like every other person walking into a coffee shop was wearing some version of a Panda Dunk. Related: Nike's latest announcement has fans scratching their heads But if you've been trying to buy a new pair lately and coming up not imagining it. Nike is quietly cutting back on these once-iconic sneakers. Fewer drops. Less shelf space. Slower restocks. The same styles that used to drive hype and dominate resale markets are now being phased out. Not because people stopped loving them-but because Nike's strategy is changing. It's a major shift and most customers won't see it coming. Especially if, like me, they assumed their go-to pairs would always be there. In its latest earnings report, Nike revealed something surprising: the sneakers that once built the brand are now dragging it down. According to CFO Matt Friend, Nike's classic footwear franchises (including the Air Force 1, Dunk, and Air Jordan 1) declined more than 30% in the fourth quarter. That alone created nearly a $1 billion revenue headwind. And Nike isn't trying to fix that decline. It's actively pulling back. The company says it's intentionally "right-sizing" those franchises to make room for new performance and sport-led products. In other words, Nike doesn't want these shoes to carry the business anymore. Related: Amid dupe lawsuit drama, Costco shoppers praise viral product CEO Elliott Hill put it bluntly: "We set out to aggressively right-size three very important franchises." Instead, the company is doubling down on running, training, and basketball. And while new models like the Vomero 18 and A'ja Wilson's A-ONE are gaining traction, they haven't scaled fast enough to offset what Nike's walking away from. The transition has been painful. Revenue is down 12%, and Nike Digital (the channel where many of these classics sold) is down 26% year-over-year. But Nike insists this is part of the plan. The brand calls it a "sport offense" and says it's time to reset for long-term growth. If you're a fan of the classics, this isn't great news. Nike isn't flooding the market with Dunks or Jordans the way it used to. That means fewer colorways, limited restocks, and a much tougher time finding your favorite pair in your size. And because Nike is repositioning its Digital channel as a full-price destination, those sale rack steals? They're likely not coming back. Nike is betting its new sport-focused gear will get shoppers just as excited. But that shift takes time-and risks leaving longtime fans behind in the process. I've even noticed it myself. The drops are fewer and farther between. I used to see new Dunk colorways popping up all the time-now it's mostly silence. And when a pair does drop, it's gone in minutes. So what can you do if your favorite pair is vanishing? Buy now, while you can. Keep an eye on trusted retailers. And know that if it feels like Nike is changing its identity, that's because it is. The classics aren't totally they're no longer the main event. Related: Nike raises prices and puts the blame purely on tariffs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
02-07-2025
- Business
- Yahoo
Should You Buy the 2025 Dip in Nike Stock?
Nike's (NKE) performance over recent years has tested investor faith time and again. But on June 27, the narrative took a turn. After releasing its fiscal fourth-quarter earnings the day prior, NKE stock surged more than 15%, a clear sign that Wall Street heard something it liked. The stock had declined year-to-date (YTD) heading into earnings, but the latest results — backed by newly appointed CEO Elliott Hill's decisive tone — offered a sense of strategic clarity. Though revenue still declined from the previous year, both top- and bottom-line results came in stronger than feared. Microsoft Stock Is Headed for $4 Trillion. Is It Too Late to Buy MSFT Here? Is UnitedHealth Stock a Buy, Sell, or Hold for July 2025? Is Palantir Stock a Buy at New Record Highs? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! With shares staging one of their best sessions this year, the report has reignited long-term curiosity. For a company that has long represented performance and endurance, Nike now finds itself at the starting blocks of what many hope will be the next great turnaround in retail. Nike commands a powerful presence as the world's top player in athletic footwear, apparel, equipment, and sports gear. With a market capitalization of $105 billion, it is built on a rock-solid brand foundation that includes Nike, Air Jordan, Nike Golf, and Nike Pro. Over the past 52 weeks, NKE stock has dropped 4.5%, a correction reflecting operational challenges and market headwinds. But in just five trading days, the stock has surged 20%, driven by the momentum sparked by the company's latest earnings results. NKE stock is now trading at 41 times forward adjusted earnings and 2.3 times sales. These valuations sit well above the industry average, reflecting the market's willingness to pay up for a potentially accelerating recovery. Adding to its long-term appeal, Nike pays an annualized forward dividend of $1.57, translating into a 2.21% yield. It has raised the dividend for 23 years in a row. The next payout, a $0.40 quarterly dividend, is scheduled for July 1 for shareholders who were on record as of June 2. Nike released its fiscal 2025 fourth-quarter results on June 26, offering numbers that, while far from flattering, managed to land ahead of Wall Street's expectations. Revenue for the quarter came in at $11.1 billion, a 12% decline from the same period last year yet still ahead of analyst forecasts calling for $10.7 billion. Within the results, the company's Nike Direct segment — its direct-to-consumer channel — posted a 14% drop in revenue, largely due to a sharp 26% fall in digital sales. Wholesale revenue declined 9%, and Converse took a 26% hit as well. Margins also faced pressure, with gross margin slipping to 40.3%, weighed down by heavier discounting and reduced full-price volume. Net income came in at $211 million, marking an 86% decline from the prior-year quarter. EPS also fell 86%, landing at $0.14. Despite the sharp contraction, the figure managed to top Wall Street expectations of $0.12. Nike closed the quarter with $7.5 billion in cash and equivalents, giving the company financial breathing room as it pivots its operating model. The brand is now focused on exiting deep discounting, cleaning out excess inventory, and revamping its product mix to restore pricing power and reassert premium status. Geographic diversification is another priority, with tariffs on Chinese imports threatening to drive $1 billion in added costs. Nike is moving its manufacturing footprint away from China to lower exposure and sharpen cost visibility. Looking ahead, analysts project Q1 2026 EPS to fall 61% year-over-year (YOY) to $0.27. For fiscal 2026, EPS is expected to decline 22% to $1.69. However, fiscal 2027 is projected to see a strong rebound, with EPS jumping 55% to $2.62. Wall Street's outlook on NKE stock is beginning to tilt in a positive direction, spurred by signs of a more disciplined turnaround. HSBC called out 'tangible evidence' of a rebound, upgrading its rating from 'Hold' to 'Buy' and raising the price target to $80 from $60. Truist shared a similar stance, maintaining a 'Buy' rating while lifting its price target from $73 to $85, suggesting that Nike's recent restructuring efforts are working faster than expected. NKE stock currently holds a 'Moderate Buy' consensus rating. Out of the 35 analysts covering the stock, 14 recommend a 'Strong Buy' rating, three rate it as a 'Moderate Buy," 16 suggest a 'Hold' rating, and two advise a 'Strong Sell.' The average price target of $75.99 represents potential upside of 3.5%. Meanwhile, the Street-High target of $120 suggests a potential climb of 63% from current levels. On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on