Nike's Stock Struggles Continue as Revenue Expectations Plummet

Nike's stock has been struggling in recent months, underperforming the Dow Jones Industrials Average. Despite being valued at $57.9 billion and having a strong brand, Nike's shares have declined by 50.6% from their 52-week high of $79.13 achieved on August 28, 2025. Over the past three months, Nike stock has fallen 15.5%, which is significantly lower than the Dow Jones' 4.2% gains during the same time frame.

The company's underperformance can be attributed to core business weakness and compounding global headwinds. Its key Sportswear and Jordan lines, accounting for half of total revenue, are facing sluggish sell-through, heavy discounting, and shrinking order books. Revenue has also dropped across major international markets including APLA, EMEA, and Greater China.

Looking ahead, management expects low-to-mid single-digit revenue declines driven by falling foot traffic, cautious spending, evolving tariffs, and geopolitical friction. Additionally, market-share gains by agile competitors like On Running and HOKA have further weighed on investor sentiment.