Nike 'Win Now' Plan Slammed as Overly Ambitious by JPMorgan Analyst

JPMorgan analyst Matthew Boss downgraded Nike's stock from Neutral to Underweight, citing concerns about the company's 'Win Now' plan. The plan, launched in December 2022, aims to refocus Nike's culture on sport and growth, create emotional connections with consumers through behind-the-brand storytelling, accelerate an innovative product portfolio, grow the marketplace, and form localized connections.

However, Boss warned that the timing of the financial impact will vary by segment. North America has made significant progress, while Greater China is expected to take more time. This decision could result in an annualized revenue headwind of over $1 billion.

JPMorgan's earnings forecasts for fiscal 2027 and 2028 have been lowered to $1.55 per share and $1.72 per share, respectively, which is lower than current consensus estimates by around 10% and 20%, respectively.