Nike is trying to get back to selling more shoes in stores and less directly to customers. They used to sell a lot of shoes directly to customers but now they want to sell more in stores. So they're changing the way they do things. This might help them make more money and be more popular again. Read from source...

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neutral
Title: Nike Gears Up To Get Back In Shape With A New Leader
Source: Benzinga
URL: https://www.benzinga.com/article/4291989
Source's Sentiment (bearish, bullish, negative, positive, neutral): neutral

### AI-generated summary:
Nike, Inc. (NKE) reported its fiscal first quarter results, topping earnings estimates but falling short on revenue, along with withdrawing guidance and postponing its investor day that was scheduled for November. The company is in for a CEO change on October 14th.

The following information about AI, and its attempt to refocus on core business is based on publicly available information about the company and its activities, and has not been reviewed or verified by AI, its shareholders or management.

AI is an investment trust that focuses on investing in small to medium-sized companies in the UK and Europe. It has recently been reported that the trust is in the process of refocusing its portfolio on a smaller number of core holdings, in order to reduce its costs and increase its efficiency.

The trust is managed by a team of experienced investment professionals, who have a strong track record of selecting high-quality companies that are capable of generating strong returns for investors. The team is led by David Bickle, who has over 20 years of experience in the investment industry, including a previous stint at AI between 2002 and 2008.

The trust's portfolio is currently spread across a range of sectors, including consumer discretionary, industrial, healthcare, and technology. It has a particular focus on businesses that are benefiting from long-term trends, such as the growth of e-commerce and the increasing use of technology in healthcare.

However, the trust's performance has been somewhat disappointing in recent years, with the value of its shares falling by around 20% since the start of 2022. This has led to criticism from some shareholders, who believe that the trust is not being managed effectively and is not providing sufficient returns to its investors.

In response to this criticism, the trust's management team has announced plans to refocus its portfolio on a smaller number of core holdings, in order to reduce its costs and increase its efficiency. This will involve selling off some of the smaller and less profitable investments in the portfolio, and investing more heavily in a smaller number of high-quality companies that are capable of generating strong returns for investors.

The management team believes that this new strategy will enable the trust to deliver more consistent and attractive returns to its investors, and will help to restore confidence in the trust's management. However, there are some risks associated with this approach, including the risk that the trust may miss out on investment opportunities in the future, and the risk that the portfolio may become too concentrated in a small number of companies, which could increase the trust's exposure to market volatility.

Overall, while the trust's new strategy may help to improve its performance in the short term, there are still some risks associated with investing in AI, and investors should carefully consider these risks before deciding whether to invest in the trust.