Nike falls after Berenberg downgrades to 'sell'

Berenberg analyst Nick Anderson said Nike appears to have accepted a smaller place in sportswear, and described the company’s focus on smaller areas as an admission that the market structure has “shifted irreversibly” against it. The brokerage sees revenue under pressure through fiscal 2028 and said the Pace restructuring plan may not help until fiscal 2029; it also said a recovery in China is “not a sure thing.”