SMH: Can Nike do it? Shoe giant’s Australian profits dip as it fights to reclaim relevance

Nike Australia’s sales fell to $922.7M, with profits dipping to $13.2M, as global struggles impact the brand’s market share. Competitors like New Balance and On Running are gaining ground, while Nike’s US direct-to-consumer strategy faces backlash. RetailOasis’ Trent Rigby highlights the challenge: “Will they make Nike cool again?” Incoming CEO Elliott Hill aims to restore brand relevance and drive growth globally.