Nike Booted from S&P 100 Index After Nearly 18-Year Run

Nike (NKE) is being removed from the S&P 100 index after nearly 18 years. The company's market cap has fallen to around $57 billion, with fiscal 2026 revenue coming in flat at $46.4B.

The removal from the S&P 100 reflects Nike's decline in terms of market weight and follows a period of struggles for the sportswear brand. Product-category cuts, a push toward direct sales over wholesale, and weaker digital marketing have all been cited as contributors to the company's difficulties.

Nike has also faced inventory issues and reduced shelf space at some retailers, adding pressure on sales. The company is reportedly shutting 11 U.S. locations, continuing its effort to trim its retail footprint.