Nike shares fell to a 12-year low due to a decline in Jordan sales
Nike's stock has lost 38% of its value since the beginning of the year and has fallen to its lowest level since 2014. One of the main reasons was a sharp decline in sales of Jordan brand products.
The company is also facing increased competition from On and Hoka, as well as challenges in the Chinese market.
Investors have yet to see quick results from the large-scale business restructuring launched in late 2024 by new CEO Elliott Hill.
During his tenure, Nike’s stock has lost about half its value, and the company’s market capitalization has shrunk by more than $60 billion. Analysts believe that it could take at least three to four quarters for wholesale sales and supply chains to recover.
Source: Bloomberg
The American sports brand Nike has partnered with the skateboarding brand “Rassvet,” co-founded by Russian designer and Putin supporter Gosha Rubchinsky.
Pope Leo XIV was spotted wearing Nike sneakers for the first time. The unusual sight was captured in a trailer for a documentary film that the Vatican produced to mark the anniversary of his pontificate.
