Nike’s turnaround is stalling, and its Converse brand is a big reason why

Converse makes up just 2.5% of Nike’s sales. Last quarter, it accounted for 20% of the company’s sales decline. Two years into Elliott Hill’s tenure as Nike’s CEO, the 118-year-old maker of the Chuck Taylor is a big drag on a comeback that isn’t coming together, with Converse sales down 28% in the most recent quarter and analysts openly wondering whether Nike will keep it in its portfolio. Converse’s Chuck Taylor high-tops have gone in and out of style over the decades, but the shoe’s vulcanized rubber sole and heavy, stiff profile are out of step with trends right now…

Source: Fortune Crypto