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StocksMediumUpdated×8•Originally published 31 March 2026•Updated 2 April 2026•

1 min read

Nike Stock Sinks to 10-Year Low on Weak Sales Outlook Despite Q3 Profit

A man in a suit over a stock chart with 'Mondelez International' text, surrounded by chocolate, cocoa beans, factories, and shops.

Key Facts

1Nike logged a profit of $520 million for the third quarter.

2 months ago

Version History

24 additional sources confirmed this story

Version 82 months ago

What changed: Added specific quantitative data regarding the 20% decline in China and new analyst sentiment labeling the stock as a potential trap for value seekers due to slow turnaround speed.

Version 72 months ago

What changed: Added details regarding CEO Elliott Hill's emotional plea to employees and his background as a veteran executive returning from retirement.

Version 62 months ago

What changed: Identified CEO Elliott Hill as the leader of the turnaround and extended the China recovery forecast to cover fiscal year 2027.

Version 52 months ago

What changed: Updated the headline and body to reflect the stock hitting a 10-year low and the impact of the weak sales outlook on investor sentiment.

Version 42 months ago

What changed: Updated the story to include new analytical insights from Neuberger Berman regarding future growth catalysts despite past strategic mistakes.

Version 32 months ago

What changed: Updated the story to include analyst downgrades, price target cuts, and the specific 4-quarter recovery timeline for the Chinese market.

Version 22 months ago

What changed: Nike issued a forward-looking warning that the sales decline in China is expected to worsen in the next quarter, while noting a loss of market share in its second-largest global market.

Version 12 months ago

What changed: Updated to reflect that quarterly results were slightly better than Wall Street expectations, while noting that investors remain skeptical of the company's turnaround strategy despite the earnings beat.

Nike shares plummeted to their lowest level since 2014 as a disappointing sales outlook overshadowed its third-quarter profit performance. CEO Elliott Hill, a veteran executive leading the company's turnaround, recently expressed personal frustration, telling employees "I'm so tired" during a plea for their support. This emotional appeal underscores the intense pressure on leadership, especially as management now projects a 20% year-over-year decline in China revenue. Furthermore, analysts have characterized the stock as a 'contrarian trap' due to the slow speed of reforms, even as the recovery timeline for the Chinese market extends to fiscal 2027. While Neuberger Berman sees potential future catalysts, investors continue to monitor NKE stock and consumer discretionary ETFs like XLY to gauge the effectiveness of these initiatives.