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

FortuneOctober 20, 20264 min read

Sales at the 118-year-old sneaker brand fell 28% last quarter, and analysts are wondering whether CEO Elliott Hill will keep it.

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…

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