Nike printed a fresh 52-week low now 51% below its high, as China digital sales collapsed 29% and a one-time tariff windfall masked flat underlying margins. Lululemon and On Holding are down 42% and 31% YTD respectively, while broad retail ETF XRT stays up 5%, isolating the selloff to athletic apparel. JPMorgan's $40 Sell target is now effectively at the market, and stripping out the tariff gain pushes Nike's dividend payout ratio above 100%.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Nike didn't make the cut. Grab the names FREE today. Nike (NYSE:NKE) shares are sliding again Monday, with the stock down 3% to $39.47 and printing a fresh 52-week low of $39.42.
Nike shares now sit 51% below the 52-week high of $80.16. There isn't a fresh company-specific headline today. The move looks like a rerating driven by continued pressure across athletic apparel, an unresolved China problem, and a market that no longer trusts the reported margin improvement.
Nike stock was down 2% for the week and down 5% for the month through Friday's close, down 35% year to date (YTD) and down 45% over the past year. The weekly and monthly slides show the selling pressure has intensified into today's fresh low. Nike's fiscal 2026 results laid out the geographic problem clearly.
Greater China generated $5.85 billion in revenue, 12.6% of the company total, with sales down 11% as reported and 13% currency-neutral. Direct digital sales in the region fell 29%. China EBIT fell 20% to $1.28 billion, and footwear unit sales in the region dropped 14%.
That volume decline signals the weakness runs deeper than currency translation. The channel mix is working against the turnaround story. Fiscal 2026 revenue was $46.40 billion, unchanged as reported and down 2% currency-neutral.
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