Nike CEO calls for growth turnaround in team meeting after poor forecast

Nike Inc. released an annual forecast below analysts’ expectations, which caused a sharp drop in the company’s shares. CEO Elliott Hill called a general meeting with employees shortly after the results were announced. Durante the meeting, the executive admitted his collective fatigue with the constant discussions about repairs in the business and defended a change in approach.

Hill said both he and the team are exhausted from talking about how to fix the company. Ele indicated the need to move towards actions that inspire growth and bring more satisfaction to daily work. The meeting took place on Tuesday, shortly after the release of guidance for the year ahead.

Internal meeting reveals frustration with turnaround pace

The CEO acknowledged that some stages of the recovery plan took longer than initially desired. Apesar Furthermore, he reinforced confidence in the strategic direction adopted by the company since taking office in October 2024.

The released guidance pointed to low-single-digit revenue declines for the remainder of the calendar year. Analistas expected moderate growth in the period, but the official projection brought more conservative numbers.

Recent performance and regional challenges

The company recorded practically stable revenue in the third fiscal quarter of 2026, with numbers close to US$11.3 billion. Net profit fell compared to the same period last year.

Persistent difficulties in the Chinese market weighed on overall results. Unit Converse also faced significant drops in sales.

• Team must prioritize innovation in core products
• Greater focus on relationships with traditional retailers
• Controlled reduction of excessive promotions in the digital channel

Financial guidance signals caution in the coming months

CFO Matthew Friend warned employees about the need for strict spending discipline. Ele highlighted that resource allocation needs to be more precise given the current business situation.

The company expects a 2% to 4% drop in fiscal fourth-quarter revenue. Para the remainder of the 2026 calendar, the projection indicates a decline in low digits.

Elliott Hill reinforces urgency in executing the plan

The veteran executive, who returned from retirement to lead Nike, emphasized that the company’s foundation is gradually strengthening. Ele asked the team to focus efforts on initiatives that generate sustainable expansion.

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Hill mentioned that one cannot simply claim that everything is going well without acknowledging the current obstacles. The transition to a more positive mentality was the main message conveyed to those present.

Current strategy prioritizes core sports brands

Nike has been working to recover space in wholesale and improve the quality of the product mix. Avanços were observed in some regions, especially in América and Norte.

Even with occasional progress, the general scenario requires continuous adjustments to resume the previous growth rate. The company continues to closely monitor performance in key markets.

Team receives guidance for greater agility

Employees were encouraged to act with focus and speed in daily tasks. The CEO highlighted that the current moment demands intense collaboration to overcome the most challenging stages of the plan.

The meeting also served to align internal expectations after the negative impact on the share price. The company remains committed to its long-term strategy.

Guidance details for the year

The official forecast for the fourth quarter indicates a contraction in sales. The impact comes mainly from weaker trends in specific segments.

Nike continues to invest in innovation to strengthen its main product lines. Executivos closely monitor demand indicators in different regions.

The company continues working to balance the portfolio and improve operational efficiency across all channels.