Victoria’s Secret reported better-than-expected sales and lifted its outlook for the year, a sign that its turnaround strategy is working https://t.co/bP7IX2rKKF ...

WSJ's Inti Pacheco sat down with Nike CEO Elliott Hill to discuss his turnaround strategy for the company https://t.co/i409JxiBIn ...

The Journal sat down with Elliott Hill to discuss his turnaround strategy. https://t.co/jTMEzCkRcx ...

Core Insights - Starbucks reported a return to growth in quarterly same-store sales for the first time in nearly two years, indicating the success of its turnaround strategy [1] - Global same-store sales increased by 1%, driven by international markets, while U.S. same-store sales were flat but turned positive in September [1] - The company’s fiscal fourth-quarter net income was $133.1 million, or 12 cents per share, a significant decrease from $909.3 million, or 80 cents per share, a year earlier [2] Financial Performance - Excluding restructuring costs and other items, adjusted earnings per share were 52 cents, slightly below the expected 56 cents [6] - Net sales rose by 5% to $9.57 billion, surpassing the expected $9.35 billion [6] Strategic Initiatives - The company closed 627 locations and laid off approximately 900 nonretail employees as part of a restructuring plan [3] - Starbucks has been investing in labor by adding assistant store managers to many North American cafes, which impacted operating margins [3] - To enhance U.S. sales, the company focused on improving in-store customer experience and reducing service times to under four minutes per order [4] Market Performance - In China, same-store sales increased by 2%, supported by a 9% rise in traffic, despite competition from local rivals [5] - The company is considering selling a stake in its China business, which is valued at over $10 billion [5]

Core Insights - Unity Software Inc. has entered a global partnership with Globant S.A., making Globant a member of Unity's Service Partner Program, which is expected to enhance Unity's market presence and product integration [1][4] Partnership Details - The partnership allows Globant to assist enterprises in utilizing Unity's real-time 3D technology and digital asset management solutions, aimed at accelerating product development and enhancing customer engagement [2] - Key focus areas of the collaboration include digital twins for manufacturing, immersive training tools for healthcare, and advanced visualization platforms for automotive and industrial clients [3] Strategic Implications - Unity is making partnerships a central part of its turnaround strategy, emphasizing long-term growth opportunities rather than just product adoption [5] - The company is also strengthening its ties in industries beyond gaming, such as automotive and healthcare, with notable integrations in BMW and Mercedes-Benz systems [6] Financial Performance - Unity's stock has surged 65.5% over the past three months, outperforming the Zacks Internet - Software industry, the Zacks Computer and Technology sector, and the S&P 500 index [8][9]

Core Insights - Starbucks is implementing a turnaround strategy under CEO Brian Niccol to revitalize sales and improve employee morale, focusing on enhancing customer experience and internal promotions [2][4][5] Group 1: Turnaround Strategy - The strategy includes retooling marketing, improving staffing, addressing mobile app issues, and making cafes more inviting [4] - Starbucks has introduced a new coffee called the 1971 Roast, symbolizing a return to its roots [3] - The company aims to restore its culture by reversing previous decisions, such as reintroducing seating in cafes after removing 30,000 seats [10][11] Group 2: Employee Engagement - Niccol's plan emphasizes giving store managers more control over staffing and product testing, with an increase in assistant managers in North America [6][12] - The company aims to raise the percentage of internal promotions for retail leadership roles from 60% to 90% [12] - Concerns about staffing have led to a wave of union elections, prompting the company to adopt a new labor model to improve service and employee experience [13][14] Group 3: Leadership and Culture - The Leadership Experience event gathered over 14,000 store leaders, marking the first such event since 2019, highlighting the importance of connection and community [9] - Former chairwoman Mellody Hobson and former CEO Howard Schultz received significant applause, indicating their lasting influence on the company [17][20] - Schultz endorsed Niccol's "back to Starbucks" initiative, encouraging managers to embody the company's core values [22][23]