What Makes a Turnaround Work
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 24 September 2024
⏱️ 28 minutes
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| 0:00.0 | A retailer wants to turn and there's only one person to call. You're listening to |
| 0:09.2 | Motley Full Money. |
| 0:11.2 | I'm Ricky Mulvey joined today by the person we are calling now for the third time |
| 0:17.8 | to talk about this turnaround the first time you're hearing it it's Jim Gillies Jim |
| 0:21.4 | Thanks for being here. Thanks, thanks for the invite Ricky. |
| 0:24.0 | We're doing Pleasantries for the third time a couple of |
| 0:26.4 | fall starts with today's recording. |
| 0:28.3 | Let's get into it because we talked about Nike's trouble on Friday's show, Osset, Ron, and Dylan covered it. |
| 0:35.2 | Let's talk, you like the little companies. You like a retailer that makes some money that not a lot of people are talking about. |
| 0:40.9 | And that's Footlocker, which is in an interesting position. There's a |
| 0:44.7 | good story in CNBC about it from Gabrielle-upon-Rogue. But basically Nike had this idea |
| 0:50.5 | a few years back under its then-C CEO John Donahoe, which was that, you know what, |
| 0:56.3 | we have these distribution partners like D.S.W. and Footlocker, and sure, they sell a lot of shoes |
| 1:01.2 | for us, but we're going to be a tech company. |
| 1:04.4 | We're going to start selling shoes directly to the consumer. |
| 1:07.2 | We're going to do it through apps. |
| 1:09.3 | That hasn't really worked. |
| 1:10.9 | And now what we might be seeing, Jim, is, you know, maybe the new CEO, Elliot Hill is going outside of the footlocker with a boombox playing the bleacher's song, I want to get better. Maybe this relationship is starting to repair and could mean |
| 1:25.9 | something for footlockers. So do you think we're going to see that new appreciation |
| 1:29.9 | under Nike's new leadership for those distribution partners that they've sort of set aside for a few years? |
| 1:37.2 | I think so, yes. And I'm going to lead out full disclosure when the news that John Donahoe. |
| 1:44.4 | I mean, look, you bring a guy over from PayPal, |
... |
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