ver, despite the company’s efforts thus far, its share price has fallen by 63 per cent this year alone.  In October, the company forecast a wider decline in annual sales than previously expected and cut its profit forecast, citing the impact of tariffs and sluggish demand. Newell Brands now expects to record a pre-tax charge of about $75 million to $90 million for restructuring, another sign that reviving the company’s profits and image will take much more effort than previously expected.  Newell claims that the new cuts will raise performance standards, simplify processes and redirect resources to the ‘highest-value’ activities. Once fully implemented, Newell says the productivity plan is expected to generate annualized pre-tax cost savings of $110 million to $130 million. “This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance. Ultimately, our goal is to deliver greater value for consumers and create sustained long-term value for our shareholders,” said Newell Brands CEO and president, Chris Peterson. While some experts commend the brand for taking necessary steps to tidy up its bottom line, relying on tariffs as an excuse for poor sales is a bit of a cop-out. Where did Newell Brands go wrong? As CI&T’s global director of retail strategy, Melissa Minkow told Inside Retail, “This definitely aligns with some of the layoff moves we’ve seen with brands like Target and Amazon. While I personally see these layoffs as part of an unfortunate move, it is a necessary rightsizing and recalibration effort after an extraordinary period of unprecedented growth and hiring in peak-Covid times.” Meanwhile, Christine Russo, the principal of Retail Creative and Consulting Agency (RCCA), remarked that while tariff pressure may serve as a catch-all to explain some of Newell Brands’ challenges, larger shifts were more likely at play in the company’s current performance.  “Growth in consumer goods increasingly comes from collaborations, direct engagement, cultural relevance, and digital demand, all of which Newell Brands doesn’t seem to engage in,” said Russo.  Indeed, in today’s retail era, when consumers are inundated with seemingly identical brands at every turn, it is more important than ever to create a point of differentiation through marketing and storytelling opportunities.  One prime example of a brand that clawed its way back is Gap. From internet-breaking campaigns featuring culturally relevant icons, such as Tyla or the girls’ group Katseye, to unique collaboration collections with brands like Béis or Sandy Liang, Gap Inc. CEO Richard Dickson has been able to revive the fashion retail giant through the power of “fashiontainment”.  A comeback plan that Newell Brands would do well to take some notes from.  What Yankee Candle shop closures indicate about Newell Brands’ relevancy  While closing down Yankee Candle’s underperforming stores will ultimately save the brand some money in the long run, in the short term, it will be ridding the company of roughly one per cent of revenue, which it can’t really afford to lose at this time.  Yankee Candle is also one of Newell Brands’ better-known names, so its underperformance means the corporation will need to dig to revive the image of its brands collectively.  Regarding Yankee Candle specifically, Minkow noted that there is greater competition in this space, which will make it harder for the company to compete.  “Fragrance overall is having a moment, so there is steep competition in the space, and Yankee Candle will have to get creative to maintain and expand market share there.” Minkow suggested that one way the brand can pursue this route is by offering consumers personalization or customization options, which are increasingly necessary for the hyper-individualistic Gen Z consumer.  She also recommended that the brand could expand into adjacent categories that are doing well within the fragrance category, such as hair and body mists, laundry detergents, car air fresheners, and so on.  “There is a lot of untapped opportunity for a brand that already has the benefit of name awareness.” Similar to Minkow, Russo recommended that Newell Brands look for fun, new ways to reinvent the images of several of its brands through intriguing storytelling opportunities.  She noted that several of Newell’s brands fall strongly within powerful-performing TikTok categories, such as #fragrancetok and cooking content, which could offer a fresh route for the company to juice up its marketing efforts.  Newell Brands could leverage the power of creator-led campaigns by offering opportunities for content creators to showcase its products.   For example, cooking influencers could feature several of Newell’s brands, such as Rubbermaid, Ball Jars, Crock-Pot, or Mr Coffee, in their videos, which may, in turn, help introduce the products to a younger, more social-media-savvy audience.  Whatever route Newell Brands chooses to take, whether TikTok or customization options, it’s important that it works quickly, or risk losing any opportunity that their household-name recognition grants them. Further reading: TikTok’s potent growth engine: From #ForYouPage to fast sales