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

Why Nike doesn't seem able to fix Converse

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

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…