What are the top 10 most impressive turnarounds in companies that were previously struggling this year?

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There have been several impressive turnarounds in companies that were previously struggling this year. While it is subjective to rank them in a specific order, here are ten notable turnarounds:

1. GameStop: GameStop was facing declining sales and difficulties in adapting to digital gaming trends. However, a sudden stock rally in early 2021 allowed the company to raise significant capital and refocus their business strategy.

2. AMC Entertainment: Due to the COVID-19 pandemic, movie theater chain AMC Entertainment was on the verge of bankruptcy. However, online communities organized a “Save AMC” movement, and the company managed to raise funds, avoid bankruptcy, and revive the business.

3. Ford: The automotive industry faced challenges in 2020; however, Ford successfully rejuvenated its product line-up with popular models like the new Ford Bronco and Mustang Mach-E, leading to increased sales and positive financial performance.

4. Spotify: After several years of losses, Spotify turned its business around by expanding its podcast offerings. Acquiring prominent podcast production companies and signing exclusive deals with popular podcasters helped the company increase its user base and improve profitability.

5. Twitter: Despite facing years of stagnation and declining user growth, Twitter experienced a turnaround in 2021 driven by product improvements and higher user engagement. The platform added new features like Spaces and Super Follows, leading to increased revenue and improved investor sentiment.

6. Delta Air Lines: With the global pandemic severely impacting the aviation industry, Delta Air Lines implemented various cost-cutting measures and adaptions to prioritize passenger safety. As a result, the company managed to minimize losses and regain stability.

7. Peloton: Though initially affected by supply chain issues during the pandemic, Peloton successfully capitalized on the growing demand for at-home fitness. The company launched new products, expanded its user base, and significantly increased revenue and profitability.

8. Norwegian Cruise Line Holdings: Facing a complete shutdown of the cruise industry due to the pandemic, Norwegian Cruise Line implemented cost-saving measures, raised capital, and focused on stringent health protocols. As the industry rebounds, the company has shown promising signs of recovery.

9. Lululemon Athletica: The athletic apparel retailer faced challenges due to temporary store closures in 2020. However, the company quickly adapted to online sales, expanded international presence, and diversified product offerings, resulting in strong sales growth and increased market share.

10. Best Buy: As traditional brick-and-mortar retailers struggled, Best Buy implemented a successful turnaround strategy known as “Renew Blue” that emphasized e-commerce, improving customer service, and optimizing store layouts. The company’s strong digital sales, improved customer experience, and solid financial performance showcased a remarkable revival.

Please note that this is not an exhaustive list, and there have been numerous turnaround success stories in various industries in 2021.

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