Nike CEO Elliott Hill Warns Full Turnaround Impact Won't Be Seen Until Next Year: 'We Still Have Work To

Nike Inc.

(NYSE:NKE) CEO Elliott Hill admitted that the company's restructuring process is not progressing as swiftly as initially planned.

Hill attributed the delay to the magnitude of Nike's challenges, amplified by U.S. tariffs and increasing oil prices that have affected consumer spending.

"What I didn't realize until I got in is the amount of work that needed to be done and the amount of time [it would take] to get us to where we are and, more importantly, where we want to go," Hill told in an interview with The Financial Times, published on Monday.

He stressed that the company still has "work to do," especially in terms of global consistency.