Nike’s Half Measures Need Another Shoe to Drop: Andrea Felsted

The first shoe has dropped at Nike Inc.

On Thursday, new Chief Executive Officer Elliott Hill set out his vision for turning around the world’s biggest sportswear company, which has lost out to rivals after it prioritized selling through its own stores and website, and didn’t deliver enough new products, relying instead on classic styles.

Hill warned that his efforts would be painful in the short term, with sales and margins in the current fiscal quarter expected to fall more sharply than in the previous three months. But he stopped short of getting all the bad news out of the ...