Hot on the heels of Kylian Mbappé’s departure from Nike’s ambassador program, the sports giant shared a 5% year-on-year revenue decline for Q1 2027. Upcoming layoffs and a geographical reorganization plan were also announced on Thursday, as shares dropped 6% leaving Nike stock at its lowest since 2013.
“Nike’s recent issues and stock decline in our view are less about losing some high-profile athletes, and more about having products that are innovative and fresh — versus relying on legacy franchises — and having an attractive presentation at both its own stores and at retail partners,” says Cristina Fernández, a senior research analyst at Telsey Advisory Group. “As Nike’s products have struggled to sell, other brands with a new technology, look, or more grassroots approach have taken share across geographic regions.”
To view the full article, please click on the following link:
Visit Content