Nike Stock Tumbles Near 12-Year Low Ahead of Q1 Earnings Report
Nike (NKE) is facing tough competition from newer running brands as it prepares to release its first quarter earnings report on October 1, 2026. The company's stock traded near $36.48 ahead of the report, sitting close to a 12-year low.
Analysts expect lower overall sales for the three-month period, with quarterly sales falling to $11.35 billion, down from $11.59 billion reported in the same period last year. The decline is attributed to higher sales discounts in North America and lower shopper traffic in China, which have squeezed Nike's profit margins.
Nike's management are trying to manage profit losses by selling old stock and rebuilding store partner ties. To save cash, Nike leadership lowered full-year sales goals earlier in 2026, forcing the company to trim costs and slow production on classic shoe lines like the Air Force 1 to make room for new shoe styles.