Nike CEO Elliot Hill went on CNBC's "Squawk on the Street" yesterday from the company's Beaverton headquarters to talk about his turnaround plan amid a prolonged sales slump and distribution challenges.
What he's saying: "I think we've got to make sport cool. And it's our opportunity to invite 8 billion consumers into the world of sport, fitness, and the lifestyle of sport. And when we do that, we grow the overall marketplace."
Zoom in: Elliot said the company shifted its strategy last month and divided each brand by sport — i.e. Nike Running, Nike Basketball, Nike Training — after he spent time thinking about Nike's mission statement and commitment to "every athlete in the world."
"I do believe moving to the sport offense, that sharpness by sport will not only help us be better with the consumer in terms of product and storytelling, but it will also make us more competitive."
