What's gone wrong at Nike? How the world's sportswear giant lost its mojo
Nike is undergoing a difficult turnaround strategy after losing market share and facing significant stock value declines. Analysts attribute the brand's struggles to strategic missteps, such as shifting away from retail partners and prioritizing digital operations over product innovation.
Why it matters
As a global sportswear leader, Nike's performance serves as a bellwether for the retail and apparel industry's health.
Image source, Getty Images By Michael Race Business reporter , Reporting from New York Published 9 minutes ago It's been a difficult few years for Nike.
The largest sportswear brand on the planet, named after the ancient Greek goddess of victory, has been losing of late. Losing sales, losing customers and losing ground to its rivals.
The one-time industry disruptor is now the establishment and in the middle of a tricky turnaround plan aimed at clinging on to market dominance.
Nike's latest financial results show signs a turnaround strategy put in place by company veteran Elliott Hill, who was coaxed out of retirement two years ago to lead the firm, is working - but the pace of change is more marathon than sprint.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in