Story perspectives
Nike Beats NA Forecast, Shares Down 75% Amid China Slump
7/5/2026
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Story summary
- Nike posted Tuesday earnings showing North America revenue up 3% as its share price fell 75% from a five-year high.
- Sales slipped in China and the brand lost running-shoe share to On and Hoka, prompting CEO Elliott Hill to issue a cautious next-quarter outlook in a tough macro environment.
- Hill also reversed prior wholesale cuts and refocused on fashion, lifestyle and a new China plan after a 12% revenue drop.
