Nike shares ended Monday at their lowest point in over ten years. The company’s ongoing turnaround has continued to put pressure on the stock, but some analysts still see reasons to be cautiously optimistic.
The stock dropped 4%, reaching its lowest close since 2014. Nike was the worst performer in the Dow Jones Industrial Average that day, which weighed on the broader index.
Nike’s turnaround plan, called Win Now inside the company, has been slow, as shown by the ongoing drop in its stock price. Shares hit their highest point in late 2021, helped by strong growth in direct-to-consumer digital sales. However, the stock fell sharply by late 2024, which was also when Elliott Hill came out of retirement to become CEO.
The drop has continued this year, with shares falling 38% in 2026, while the broader market has gained almost 14%. There has been little improvement in recent months. In June, Nike hired a former Pfizer executive as its new chief financial officer, but analysts doubted that this move alone would change the company’s direction. A few days later, Nike’s fourth-quarter results were better than expected, but ongoing weakness in international markets took away from the positive news. Nike’s management expects sales in few areas to stay negative through 2027, but they believe recovery will pick up in the second half of the year.
