Nike falls to lowest level since 2014 as turnaround pressure deepens

Nike $NKE has fallen nearly 40% this year and is now trading at its lowest level since 2014.
The company reported $46.4 billion in fiscal 2026 revenue, down 2% year over year. Digital sales declined 12%, China revenue fell 11% and quarterly profit dropped 35%.
Competitive pressure from brands including On and Hoka has intensified, while CEO Elliott Hill has acknowledged that the company's turnaround has yet to deliver the desired results. Nike's CFO has also resigned and JPMorgan recently downgraded the stock to Underweight.
$NKE is now roughly 78% below its 2021 peak of $177.51, representing an estimated loss of nearly $200 billion in market value from the high.