Nike Shares Hit 11-Year Low After 36% YTD Drop and Weak China
ONON•Nike shares have fallen 36% so far in 2026 and 43% over the past year, reaching their lowest level since 2015. Fiscal Q4 guidance forecasts a 2–4% sales decline and a 25–75 basis point drop in gross profit margin after China sales slid 10% and digital revenue plunged 21%.
1. Stock Performance Decline
Nike stock has slumped to its lowest level since 2015, down 36% year-to-date and 43% over the past 12 months, reversing a decade of gains and signaling eroded investor confidence.
2. China Operations and Digital Sales
Sales in Greater China dropped 10% year-over-year, with digital revenue plunging 21% and wholesale volume off 13%, reflecting persistent challenges in the region’s consumer market.
3. Fiscal Fourth Quarter Guidance
Management projects a 2–4% decline in fiscal Q4 sales and a 25–75 basis point contraction in gross profit margin, setting modest expectations for the quarter following earlier underperformance.
4. Competitive and Restructuring Headwinds
Under CEO Elliott Hill’s restructuring plan, Nike faces intensified pressure from Adidas and emerging brands like On Holding, contributing to market share erosion and investor concern over future growth drivers.
