News Summary

• Elliott Hill came out of retirement to replace John Donahoe as chief executive of Nike.
• Hill has repaired relationships with wholesalers, curbed the flood of once-hot sneaker styles Nike let saturate the retail market.
• Wholesale has returned to growth, and performance running is showing signs of renewed strength.
• Still, investors remain unconvinced, and the stock market's initial euphoria has long since disappeared.
• "The initial excitement around the appointment has been replaced by a realization that this is a long, hard slog," says Neil Saunders, managing director at GlobalData Retail.