Nike stock is trading 75% from its previous peak following weakening sales growth and margin pressure. The company has been dealing with weak demand for lifestyle products, which account for roughly half of its revenue, and sales decreased 1% year over year last quarter. CEO Elliott Hill acknowledged the turnaround progress is uneven but said management is building Nike for the next decade, not the next quarter. Structural improvements to the supply chain and tighter inventory management are expected to drive earnings growth and stronger margins over the next 10 years. Analysts expect adjusted earnings to reach $2.75 by fiscal 2029, compared to a previous peak of $3.95 in fiscal 2024.
Nike IncWeak demand for lifestyle products and 1% sales decline
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