Nike Stock Plummets to 12-Year Low Amid Revenue Decline Forecasts

Nike (NKE) is set to report its earnings for the first quarter of fiscal 2027 on Oct. 1, after a decline of almost 80% from its 2021 peak.

The company's stock has plunged to a 12-year low due to strategic missteps and rising competition, including being removed from the S&P 100 index earlier in September.

Nike had built a competitive advantage through athlete endorsements and a strong supply chain, but failed to recapture open shelf space after switching to exclusively online sales, allowing competitors like On Holding to take market share.

Analysts forecast a 3% revenue decline in fiscal Q1 and a 2% drop for fiscal 2027, making it unlikely for the company to recover soon.