JD Sports backs Nike CEO Elliott Hill as turnaround pressure mounts

JD Sports gave Nike’s Elliott Hill a public endorsement at a moment when the sportswear giant is still under heavy turnaround pressure. Regis Schultz, the retailer’s chief executive, said Hill was doing “a great job” and described the two companies’ relationship as “fantastic,” a notable show of support from a chain that relies on Nike for roughly 45% of sales.

That backing carries outsized weight because JD Sports is not a casual observer. Nike products drive nearly half of the retailer’s revenue, which means JD’s read on product flow, consumer demand and shelf appeal is shaped by direct exposure to Nike’s recovery. For Nike, the comments were a reminder that wholesale relationships still matter, especially as the company tries to rebuild trust with retailers after years of friction over strategy and inventory.

Hill returned to Nike as chief executive on October 14, 2024, after more than three decades with the company. Nike announced his appointment on September 19, 2024, as it handed him a business that was dealing with weak retailer relations, inventory problems and a strategy reset that had yet to convince investors. Schultz’s view was that Hill simply needs time, and that the deeper work at Nike is restoring a culture centered on innovation and stronger product.

The timing of the JD Sports endorsement mattered because Nike’s latest financial results showed how hard that reset has been. In fiscal 2025, Nike’s full-year revenue fell 10% to $46.3 billion. Fourth-quarter revenue dropped 12% to $11.1 billion, while wholesale revenue in the quarter declined 9% to $6.4 billion. Nike said it was reducing supply of certain footwear products through markdowns, discounts and higher sales returns to wholesale partners in order to clear inventory and make room for new product.

That inventory cleanup is central to the turnaround. Nike sells through both direct operations and wholesale accounts, and the brand’s global reach depends on keeping major retailers engaged even while it trims stock and reshapes its lineup. When a large partner like JD Sports publicly says the relationship remains strong, it suggests Nike is making at least some progress on the execution side that matters most to merchants.

There were earlier signs of that shift. In September 2025, JD Sports said Nike’s new products were “resonating well” with customers, highlighting the Vomero, Pegasus and P-6000 running ranges. That matters because product momentum, not just corporate messaging, is what ultimately restores wholesale confidence.

For investors, the message was clear: Nike’s turnaround will be judged not only by earnings but by whether retailers keep seeing demand, better product flow and a healthier brand pipeline. JD Sports’ backing suggested that, at least with one of Nike’s most important partners, the reset was beginning to gain traction.