Nike sinks toward 2024 lows as growth doubts mount

Nike’s stock fell about 4% to roughly $39 after a fiscal Q4 revenue of $11.0 billion, flat EPS excluding tariff benefits, and guidance for a low-to-mid single-digit revenue decline; analysts cite weak momentum, leadership turnover under CEO Elliott Hill, shifts in sneaker demand, and competition from On Holding as headwinds. The drop comes as Nike trades near multi-year lows, about 78% below its 2021 high and its lowest level since September 2024.