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Nike Exits S&P 100: The Story Behind the Sportswear Giant's $220B Fall
The index change reflects a more than $220 billion drop in Nike’s market value as sales stay flat and competition intensifies.
- S&P Dow Jones Indices will remove Nike from the S&P 100 effective September 21, 2026, after the sportswear giant's market value plunged by more than $220 billion from its November 2021 peak.
- Intensifying competition from Hoka, Anta, and Li-Ning, combined with stagnant sales, drove the stock down roughly 80% from a high of around $281 billion to about $57 billion.
- Greater China revenue fell 11% to $5.85 billion, while Nike's annual report said "declining store traffic, elevated promotional activity and higher levels of inventory across the marketplace" weighed on results.
- Chief Executive Elliott Hill is shifting strategy by reinvesting in wholesale distribution, while Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk will replace Nike in the S&P 100.
- While Nike will remain in the broader S&P 500, executives warn that negative impacts from Greater China and Converse are expected to continue through fiscal 2027, as turnaround efforts take time.
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The sports company will be out of the S&P 100 after losing about 78% from its peak of 2021, while critics question the direction taken by the brand in recent years.
Nike, a giant in the global sports industry, has suffered the humiliation of being removed from the S&P 100—an index of iconic American companies—for the first time in 18 years, due to severe poor performance and weakening competitiveness. This goes beyond a mere exclusion from the index; it symbolizes a fundamental shaken of Nike's market dominance, which once reigned over the global consumer goods market. On the 6th (local time), the S&P Dow J…
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Total News Sources30
Leaning Left1Leaning Right12Center0Last UpdatedBias Distribution92% Right
Bias Distribution
- 92% of the sources lean Right
92% Right
R 92%
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