In 2024, leadership and strategy emerged as pivotal factors in a mixed retail stock market, with companies like Walmart excelling through operational excellence and luxury brands facing challenges amid consumer resistance to high prices.

Throughout 2024, the retail and fashion sector experienced a volatile stock market, with significant leadership-driven differentiation. While the S&P 500 grew 23.3% due to economic stability and lower interest rates, luxury stocks such as LVMH, Burberry, and Kering struggled, primarily affected by China's slowing economy and resistant consumers wary of high prices. The pandemic-fueled strategy of inflating goods prices caught up with luxury brands as affluent shoppers reassessed value. Conversely, companies like RealReal Inc. thrived, with stock surging 444%, driven by operational shifts and increased consumer interest. Mytheresa benefited from its acquisition of Yoox Net-a-Porter, more than doubling its stock value, while Capri Holdings experienced a sharp decline following setbacks at Michael Kors. Walmart stood out among broader trends due to its robust operational system, which enabled seamless execution across omnichannel strategies and digital transitions, boosting its stock sharply. 2024 highlighted the importance of capable management, as many companies restructured leadership positions amid tough competition. Significant CEO changes were observed across Nike, Burberry, Gucci, and others, underscoring the critical role of organisational strategy and teamwork. The evolving competitive landscape rewarded businesses that adapted effectively, focusing on growth trajectories rather than pure profitability. As the market acknowledged well-executed strategies, companies with streamlined management systems significantly outperformed peers. Walmart's success demonstrated the strength of operational coherence, adopting a transformative business model while delivering consistent growth. In an era no longer defined by universal headwinds such as the pandemic, the ability of firms to seize market opportunities and innovate became decisive factors in distinguishing winners from laggards.