The direct to consumer pivot is often mentioned, but this is probably something that just accelerated their demise. The bigger problem right now for the turnaround is the competition. A lot of Chinese brands even dominate some spaces like basketball in the last years, and they are still difficult to get in Europe where I live, but they are making a push. Once that happens, I am not sure what Nike is going to do. Quality wise pretty much every review puts shoes from Li-Ning and 361 as the best of the best. And they're not cheap either.

In a lot of ways they remind me of Intel, and I'm not sure there will be a shoe center buildout bubble around to save them.