Nike Stock Hits 12-Year Low Amid Retail Woes and Weak Earnings

Nike's stock has hit a 12-year low as several warning signs from retail partners and internal struggles come to light.

Dick's Sporting Goods cut its full-year outlook, citing softer footwear demand and increased promotions, while JD Sports slashed profit guidance due to a 6.8% drop in North American comparable sales.

Nike's own numbers also show weakness: fiscal Q4 revenue was flat, with a 3% currency-neutral decline and a 130 basis point slip in gross margin due to higher U.S. tariffs.

The company is guiding the current quarter for a 2-4% revenue decline and expects Greater China sales to drop about 20% as it works through excess inventory.