- Nike shares closed at $38.40 on September 4, down 48% over the past year and near the bottom of their 52-week range.
- Nike will be removed from the S&P 100 before trading opens on September 21, while remaining a member of the S&P 500.
- FY26 revenue was $46.40 billion, below FY24 revenue of $51.36 billion, while FY26 EPS declined to $2.10 from $3.73 in FY24.
- Nike's Q4 wholesale revenue increased 4%, but Nike Direct fell 7%, digital sales dropped 12%, company-owned stores declined 7%, and Converse revenue fell 32%.
- Palo Alto Networks will replace Nike in the S&P 100, highlighting the benchmark's shift toward technology companies.
Quotes
“The changes are intended to make each index more representative of its market-capitalization range.”
“persistent top-line headwinds”