Nike Stock Hits 12-Year Low Amid China Woes
Nike's stock price has plummeted to a 12-year low of $38.59, down 78.55% from its November 2021 peak and 38% in 2026 alone.
The sportswear maker is struggling with deepening troubles in China, where earnings before interest and taxes have fallen 45% this year, and revenue has declined for eight consecutive quarters.
To address these challenges, Nike has appointed Jane Ewing as its Chief Commercial Officer, effective September 7. Ewing brings over 14 years of experience from Walmart (WMT), including a stint as senior advisor and executive team member for Walmart China.
Ewing's mandate includes fortifying retail collaborations, enhancing digital platforms and physical store experiences, and identifying new growth opportunities across international markets.