Nike Set to Lose S&P 100 Spot Amid Prolonged Market Decline

Nike is set to lose its place in the S&P 100 after nearly 18 years, highlighting the extent of the sportswear giant's decline. The company will be removed from the index effective September 21 as part of its quarterly rebalancing.

The move underscores how dramatically Nike's market position has changed in recent years, with the company's stock price falling to a 12-year low. Shares closed at $38.40 on Friday, September 4, about 50% below their 52-week high of $76.97.

Nike's market capitalization now stands at roughly $57 billion after a prolonged selloff. The company's revenue declined from $51.2 billion in fiscal 2023 to $46.4 billion in fiscal 2026, while its operating margin fell from 15.6% in fiscal 2021 to 8.2% in fiscal 2026.

Nike's most recent quarterly results offered some signs of resilience, but the company's outlook continued to weigh on investor sentiment. The company expects sales to continue declining through the first half of fiscal 2027 as it contends with tariff pressures, geopolitical uncertainty and cautious consumer spending.