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Nike’s Slump and Strategic Pivot | Raleigh News
Nike’s stock is cratering, down 78% since its 2021 peak as the sneaker giant grapples with a decade-long strategy gone wrong—its direct-to-consumer push is now hemorrhaging revenue, digital sales plummeted 12%, and China’s market is in freefall after eight straight quarters of decline. To fight back, Nike plans to shutter over 1,000 third-party online stores in China by 2027, focusing only on its own platforms. Wall Street is already sounding the alarm, with one analyst downgrading the company over shaky profit forecasts and store closures in North America. The hiring of a new CFO from Lowe’s…
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