Nike (NKE) Price on Solana

Nike reported fiscal Q1 2027 revenue of $11.2 billion, down 4% year-over-year (5% currency-neutral), as a 26% currency-neutral decline in Greater China weighed heavily on results. Diluted EPS came in at $0.48 and gross margin improved 60 basis points to 42.8%, but the top-line miss and a forward outlook calling for further revenue declines through fiscal 2027 sent shares down more than 10% — extending a year-to-date loss of roughly 45%.

To address the sustained pressure, Nike launched "Pace," a restructuring program targeting $2.5 billion in cumulative cost savings through fiscal 2031 via supply chain changes, geographic reorganization, and workforce reductions. CEO Elliott Hill acknowledged the plan will result in fewer positions company-wide; the company expects approximately $1 billion in pretax restructuring charges through 2031, primarily for severance. The announcement marks a third round of staff cuts within two years, underscoring the scale of Nike's ongoing turnaround effort.

Nike reports quarterly results after the bell on Thursday, and it does so from deep in a downtrend. CNBC's technical analysis notes that the shares have made lower highs and lower lows since they peaked in 2021, and are down about 43% so far in 2026 as investors keep waiting for the company's turnaround to show up in the numbers. Most traders are focused on Micron this week, which reports on Wednesday, but CNBC argues Nike deserves attention too.

The case rests on momentum indicators rather than fundamentals. CNBC points to a short-term bullish divergence in Nike's relative strength index (RSI), and says the stochastic oscillator has given a buy signal. On that basis it calls the pre-earnings risk/reward reasonable, even though the long-term trend is still down. The note comes just days after Bank of America cut Nike to Underperform with a $30 price target, so Thursday's report lands with bearish analysts and short-term technical signals pointing in different directions.

Bank of America analyst Lorraine Hutchinson downgraded Nike to underperform from neutral on September 25 and cut her price target to $30 from $47, about 17% below Thursday's close, CNBC reports. Her view is that Nike's turnaround will take longer than expected. She now sees sales falling through fiscal 2027 instead of turning up in the spring, and doesn't expect a recovery until 2028. She gave three main reasons: weak demand for Nike's classic franchises is drowning out its newer products, the company's reset in China faces a harder demand backdrop, and Nike's cut to partner online sales there is likely to cause promotional pressure. 24/7 Wall St. adds that the note flagged excess inventory, slowing North America wholesale orders, and sell-through lagging sell-in.

The note also says Bank of America's fiscal 2027 earnings estimate implies a payout ratio above 100%, meaning Nike would pay out more in dividends than it earns. Nike shares fell about 2% to around $35 after the downgrade, according to 24/7 Wall St. The stock is down roughly 43% year to date and 47% over the past year.

Nike has ended its roughly 20-year endorsement relationship with Kylian Mbappé, with the French striker's contract expiring in July 2026. According to CNBC, Nike concluded it had already captured the prime years of the partnership and chose to redirect endorsement spending elsewhere — a decision consistent with the cost discipline CEO Elliott Hill has emphasized as the brand fights to regain momentum amid a stock price that has fallen roughly 50% over the past year.

Mbappé, 27, promptly signed with Swiss running brand On in a deal that includes an equity stake and makes him the centerpiece of On's newly formed football division. On also appointed retired French international Thierry Henry as director of football, with plans to release Mbappé-affiliated boots in 2027. Losing the world's most recognizable active soccer player to a fast-growing challenger is a reputational blow for Nike at a moment when its turnaround is still unproven, though the company frames the split as a deliberate budget reallocation rather than a competitive loss.

Alexandre Arnault, deputy CEO of LVMH's Moët Hennessy division and son of LVMH Chairman Bernard Arnault, has joined Nike's board of directors. Nike Executive Chairman Mark Parker cited Arnault's track record of helping "iconic global brands evolve, innovate and grow," a reference to his four-year tenure at Tiffany & Co. — where he led product, communications, and operations — before LVMH completed its $16 billion acquisition of the jeweler in 2021. Arnault moved into his current LVMH role in early 2025.

The appointment gave NKE a brief overnight lift of nearly 1%, though the stock remains down roughly 3% for the week and is on pace for a fourth consecutive weekly loss. Nike is under sustained pressure: fiscal 2026 revenue declined 2% to $46.4 billion, the stock has shed nearly 80% from its November 2021 peak, and the company recently lost its spot in the S&P 100 after 18 years. CEO Elliott Hill is pursuing a turnaround centered on product innovation and broader consumer engagement; Nike is set to report fiscal 2027 first-quarter results on October 1.

Nike Chief Legal Officer Robert Leinwand sold 3,646 Class B shares on September 9, 2026 at a weighted average of $37.59, generating roughly $137,000 in proceeds. The transaction was executed under a Rule 10b5-1 trading plan established in February 2026, a pre-scheduled arrangement that lets insiders conduct systematic sales without raising insider-trading concerns. Leinwand retained 89,265 directly held shares valued at approximately $3.27 million after the sale.

The disposal came a day before Nike's stock touched a 52-week low of $36.55, capping a roughly 49% total-return decline over the twelve months ended on the transaction date. Nike's slide has been driven in part by an 11% year-over-year drop in China sales during fiscal 2026, a removal from the S&P 100, and broader headwinds across the sneaker sector. The pre-scheduled nature of the 10b5-1 plan means the sale does not necessarily signal a change in Leinwand's views on the company's near-term prospects.

Nike shares slipped a further 0.5% in premarket trading on September 14, extending a decline that has now erased roughly 77% of the stock's value from its November 2021 peak. NKE is trading at its lowest level since 2014, with its monthly RSI reaching the weakest reading since 1984 — a technical signal of severe oversold conditions. The stock has shed approximately $224 billion in market capitalization over the multi-year downturn.

CEO Elliott Hill has acknowledged the shortfalls, stating the company is "not living up to our full potential, particularly in Nike Sportswear and Jordan Streetwear, where sell-through remains challenged." Compounding the pressure, Nike is set to be removed from the S&P 100 effective September 21, which could trigger additional selling as index-tracking funds rebalance. Morgan Stanley analyst Alex Straton recently initiated coverage with an Underweight rating and a $31 price target, projecting earnings will trail consensus estimates through 2030 due to weaker China sales and a slower-than-expected recovery from the company's troubled direct-to-consumer pivot.