From Nike’s turnaround setbacks to Chip Wilson’s battle with Lululemon, the spookiest sights weren’t found on retailers’ shelves this year.

The spooky season is in full swing, but the industry is proving to be even scarier than those larger-than-life skeletons.

From companies crawling their way out of decline to frighteningly sky-high prices, it hasn’t taken much to rattle retail.

With the industry's biggest quarter ramping up, it's more important than ever to deliver solid experiences for consumers, especially in a year where they're more selective in where they allocate their budgets.

Here's a look back at some of the biggest horror stories that hit retail this year.

Two years ago, Elliott Hill stepped in as Nike’s CEO and was tasked with correcting a DTC pivot that had gone too far.

BNP Paribas earlier this month said that around that time, they heard from leadership that Nike’s Win Now strategy would be completed by the end of 2025. That timeline was later kicked out to the end of 2026.

But at the start of this month, the athletics retailer introduced its latest restructuring plan, Pace, which includes consolidating geographies, creating a more flexible supply chain, opening a campus in India, and putting resources toward product innovation, brand storytelling and more.

Pace represents Nike’s third restructuring program since fiscal 2024, and the retailer said that it has “significant work ahead,” particularly within its sportswear, Jordan Brand and China segments.

While Nike did not provide an estimated timeline for when it intends to complete its turnaround, BNP Paribas senior analyst Laurent Vasilescu said that “rightsizing of the business may last for several years to come.”

Source link