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Nike Stock Tumbles to 11-Year Low After Earnings Report
Management forecast a 2% to 4% revenue decline next quarter as tariff-driven costs and weaker China sales pressured margins.
- Nike shares fell 11% on Wednesday following Q3 FY2026 earnings that beat estimates but delivered a disappointing forward outlook, pushing the stock toward multi-year lows.
- Management guided for a Q4 revenue decline of 2% to 4%, while gross margins contracted 130 basis points to 40.2% due to tariff-driven cost increases in North America.
- Greater China revenue is expected to drop 20% in the current fiscal quarter, while Converse revenues collapsed 35% and NIKE Direct and digital revenues declined 4% and 9% respectively.
- JPMorgan Chase cut its Nike stock price target from $86 to $52, signaling concerns that CEO Elliott Hill's restructuring efforts have delivered promises rather than concrete results.
- Competitors including On Running, Hoka, and New Balance have gained market share among younger consumers, though the upcoming FIFA 2026 World Cup may provide a marketing catalyst for brand momentum.
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Nike on its last legs as stock price plummets after woke push blows up in its face
Things aren't looking so good for this 'woke' sneaker brand. Nike stock tumbled on Wednesday due to a less-than-positive revenue forecast. The post Nike on its last legs as stock price plummets after woke push blows up in its face appeared first on Conservative Angle | Conservative Angle - Conservative News Clearing House
Coverage Details
Total News Sources14
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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