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Nike Plans to Cut $2 Billion in Costs; Layoffs Imminent as Strategy Pivot Continues

Retail TouchPoints

Nike has laid out a plan to cut up to $2 billion in costs over the next three years in a bid to “accelerate future growth while building a faster, more efficient” organization, executives shared during the company’s fiscal 2024 Q2 earnings call. However, currency-neutral wholesale revenues were down 3% to $7.1

Planning 264
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Ralph Lauren Plans 90 New Stores and Additional Localized Websites in 2021

Retail TouchPoints

Success for the brand’s own retail operations may be leading Ralph Lauren to shift some of its attention away from its wholesale business. An emphasis on retail operations also would build on the subscription rental service the brand launched earlier in 2021.

Planning 274
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Nike to Double Down on DTC Following Q3 Gains, Plans Standalone Jordan Stores

Retail TouchPoints

Nike is pushing forward with its digitally focused direct-to-consumer strategy following a strong Q3, with plans to build “the marketplace of the future” and bring standalone Jordan stores to North America. The brand’s overall digital sales also increased 19% globally, while wholesale revenues were down by 1%.

Planning 260
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Can Allbirds make a comeback with a new CEO and transformation plan?

Inside Retail

Its valuation surged to over US$4 billion on its first day of trading in November 2021. In a call with analysts on March 12, Zwillinger stated that the company plans to close between 10 and 15 underperforming US stores in 2024, about a third of its total number. million in 2021. million in 2022, or 56 per cent of total revenue.

Planning 130
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The Rise and Fall of Allbirds: The Sneaker Brand’s Comeback Plan Includes Refocusing on Its Core Consumer and a Carbon-Negative Shoe

Retail Wire

Allbirds, the sustainable footwear brand known for its wool sneakers, has faced challenges after its successful IPO in 2021. In response, Allbirds implemented a four-part reorganization plan, including refocusing on its core consumers and adding more wholesale partners. It also released new products developed by.

Planning 100
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Q2 2021 Roundup: How Target, Macy’s and Foot Locker Harnessed Consumer Optimism

Retail TouchPoints

Retail rode strong into Q2 2021 as shoppers returned to stores even as digital sales remained elevated. in Q2 2021 while its digital comparable sales grew 10% , building on the 195% growth achieved in 2020. Target’s Store-Based Fulfillment Model Drives Convenience. Target’s physical comparable sales grew 8.9%

Consumer 314
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Inside Scotch & Soda’s plans for world domination

Inside Retail

Dutch fashion retailer Scotch & Soda is accelerating its global expansion plans with a total of 15 new brick-and-mortar stores and 12 shop-in-shops opening worldwide over the next six months. IR: How are you planning to grow the brand in Asia Pacific? SJ: We realise that most of the impact comes from the materials we use.

Planning 246