Nike's Consumer Direct Offense Is Paying Off
In June 2017, Nike (NYSE: NKE) was struggling. The stock had slumped over the previous two years as it lost market share to adidas, whose stock more than doubled during that time.
To turn around its performance, the company unveiled a new strategy: the Consumer Direct Offense. It promised to drive growth by doubling innovation, speed, and direct connections with customers, what it called its triple double strategy. It also said it would focus on 12 cities in 10 countries to propel its growth over the coming years, and restructured its business into four regions, rather than six, laying off 2% of its global workforce to become more simplified and efficient.
Since then, the stock price has nearly doubled, its revenue and earnings growth has accelerated, and its latest quarterly report makes it clear that the strategy is paying off.
Source Fool.com
