Nike Stock Plunges to Lowest Price Since 2015

Shares in Nike fell 13% at the opening bell, reaching their lowest intraday price since 2015 after the company released an outlook report that came in below analyst expectations, Jake Conley reported for Yahoo Finance.

Nike attributed the miss to a 20% decline in China sales, as well as other inventory and margin pressures.

Shares traded below the $46 mark as of 10:00 a.m. ET. The company's stock is now down 28% since Jan. 1.

During Nike's Tuesday earnings call, the global apparel giant forecast that revenue would decline 2% to 4% in the fiscal fourth quarter and continue dropping throughout the rest of 2026.

Analysts had been expecting revenue growth of 2% for this quarter and larger gains later in the year, according to Bloomberg.

The company attributed the miss to a 20% decline in China sales, as well as other inventory and margin pressures.

"This quarter we took meaningful actions to improve the health and quality of our business," president and CEO Elliott Hill said.

"The work is not finished, but the direction is clear. Our teams are moving with focus and urgency, and our foundation is getting even stronger to build the future of Nike."