1341 ET - Nike's initiatives under new management are on the right track, but the road from here will be long and volatile, according to Morgan Stanley in a research note. Analysts say CEO Elliott Hill further clarified Nike's near term strategy, and they expect him to continue to refine it as he spends more time in the CEO seat, but they also say "evolved messaging may come with ongoing market confusion." It will likely be difficult for investors to underwrite a turnaround story as strategy evolves and there is limited future P&L visibility, the analysts add. Nike sinks 5.5%.(sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
March 21, 2025 13:41 ET (17:41 GMT)
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