Wall Street seems frustrated with Nike’s struggle to live up to its iconic mantra: Just Do It. For investors hungry for quick gains, the expectation feels more like: Just Do It Now. Reviving the Nike brand will be challenging. The company is still a powerful global name with a wide-ranging portfolio, but the post-COVID-19 marketplace is very different. Tactics that succeeded during the pandemic no longer suffice to fuel growth, maintain relevance, or secure a competitive edge. This article appears in Branding Strategy Insider’s FREE newsletter. Join top marketers worldwide and subscribe here to receive practical insights straight to your inbox. Nike’s CEO, Elliott Hill, has described the turnaround as a “multi-year” effort. The objectives are to drive sales, win back market share, and reinvigorate Nike’s once-dominant sports-performance innovation so it can better compete with trendy, in-demand brands like Hoka and On. At the moment, Nike is in the “stabilization” stage of its turnaround—essentially, stopping the bleeding. Turnaround specialists consistently say the first critical step is to “Stop the bleeding.” This involves halting both financial losses and the erosion of the core customer base. The short-term priorities are keeping the business viable and restoring the brand. Coverage in the online business media points to several core components of the plan, including: Re-centering the brand on its heritage of innovation in service of athletic performance. Restructuring the organization, including re-segmenting around customers’ sports-performance needs and pain points. Rebuilding strong retail partnerships. Restoring healthy profit margins. Tightening and improving inventory management.…