Nike Stock Hits 52-Week Low Amid Mixed Q1 Results

Nike's stock price has fallen to its 52-week low of $35.16 after the company reported mixed Q1 results. The athletic apparel giant beat earnings per share estimates but missed revenue expectations, with shares initially dropping 5% following the report.

The company's top-line remains under pressure, with revenue down 4% year-over-year despite a 2% sequential rise. Gross margin was boosted by a tariff refund, which is not expected to continue, and underlying gross margin has eroded over the past five quarters.

Management guided Q1 revenue down a low-to-mid single-digit percentage, while fiscal 2027 adjusted EPS expectations were below analyst estimates at $1.15-$1.35. The outlook was deemed harder to ignore than the mixed results themselves.