The company has struggled with managing its inventory, leading to excess stock and increased discounting to move products. Consumers are increasingly favoring newer and more innovative brands, particularly in the running and performance footwear categories. Emerging activewear brands and established competitors are also gaining market share.
The company has undergone leadership changes, including the appointment of a new CEO, as it attempts to address these challenges and regain market share. CEO Elliott Hill has outlined a new, multiyear strategy to boost Nike's presence in key markets and regain lost market share.
Nike is prioritizing innovation and developing new products to address consumer preferences and compete more effectively. It isn't the fastest-growing brand on this list, but it's still expanding at a steady pace. Nike also pays a modest and rising dividend for people interested in investment income.