Nike has inked a vendor partnership with Fleet Feet to deepen its running footwear, apparel and accessory assortment. The expanded deal increases distribution from select doors to Fleet Feet’s nationwide footprint, aiming to boost wholesale growth following a Q3 rise driven largely by new accounts and off-price channels.

Shares plunged over 15% to $44.62 on April 1 after management issued weak fourth-quarter guidance and noted slower prior recovery, marking a 68% drop from November 2021 highs. The stock trades down further, with some analysts warning of North America sell-through weakness while others anticipate improving margins and positive sales inflection.

Nike faces a nationwide class-action in Oregon after a January network breach exposed 1.4 terabytes of customer personal and payment information. Plaintiffs allege delayed notification until February 25 and negligent safeguards, seeking injunctive relief for identity-theft risk and punitive damages.