Nike hits decade‑plus low
Social market posts report that Nike shares reached a more than ten‑year low, with commentary noting a lack of long‑term holders currently in the green. (x.com) Traders are flagging the print as a technical milestone amid broader earnings and macro headlines. (x.com)
Nike shares closed at $42.62 on Friday, April 10, their lowest finish in more than a decade after a fresh selloff this month. (stockanalysis.com) The latest drop followed Nike’s fiscal third-quarter report on April 3, when the company said revenue for the quarter ended February 28 was $11.3 billion and diluted earnings per share was $0.35. Gross margin fell 130 basis points to 40.2 percent. (investors.nike.com) Nike said wholesale revenue rose 5 percent to $6.5 billion, but Nike Direct revenue fell 4 percent to $4.5 billion and Converse revenue dropped 35 percent to $264 million. The company said higher tariffs in North America were one reason margins narrowed. (investors.nike.com) The stock fell harder after management’s outlook. Bloomberg reported on April 1 that Nike told investors revenue would decline 2 percent to 4 percent in the current quarter and stay down in the low single digits for the rest of calendar 2026, below what analysts had expected. (bloomberg.com) That guidance landed in the middle of a turnaround under Chief Executive Elliott Hill, who returned to lead the company after years of slowing growth, weaker digital sales, and market-share pressure in running and lifestyle categories. Nike’s first-quarter revenue was $11.7 billion, second-quarter revenue was $12.4 billion, and third-quarter revenue was $11.3 billion. (investors.nike.com 1) (investors.nike.com 2) (investors.nike.com 3) The pressure has been heaviest in Nike’s own direct channels. Nike Direct revenue declined 4 percent in the first quarter, 8 percent in the second quarter, and 4 percent in the third, while Nike Brand Digital fell 12 percent, 14 percent, and 9 percent across those periods. (investors.nike.com 1) (investors.nike.com 2) (investors.nike.com 3) Some analysts are now questioning whether Nike needs a broader reset. MarketWatch reported April 10 that the stock had hit a 12-year low and that some analysts were losing faith in management as the company’s chief innovation officer prepared to leave. (morningstar.com) Nike has said it is trying to rebuild its business through North America, wholesale partners, and running. In the first half of fiscal 2026, wholesale revenue grew 7 percent and then 8 percent before slowing to 5 percent in the third quarter, while North America helped offset declines in Greater China. (investors.nike.com 1) (investors.nike.com 2) (investors.nike.com 3) For traders, the chart level matters because it marks a price last seen around 2014. For Nike, the next test is whether the company can stop the sales declines it forecast for the rest of 2026 and turn a decade-low stock price into a floor. (stockanalysis.com) (bloomberg.com)
