Drooid Logo
Back to story perspectives

Full Breakdown

Nike Dropped from S&P 100 Amid Sales Slump and Brand Turmoil

By Drooid · · How we work

Core Event: S&P 100 Removal and Immediate Market Impact

On September 21 2026, Nike Inc. was removed from the S&P 100 after an 18-year run. The change was announced by S&P Dow Jones Indices during its quarterly review. The stock opened at USD 35.51, down 4.3 % and near a 52-week low. Index-tracking funds will no longer hold Nike shares, reducing passive demand.

Nike stock heads into the open after a 4.3 percent slide Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure What's Happening with Nike? Today it loses its place in the S&P 100 after almost 18 years: "It will impact its image"

Background & Context

Analysts say the U.S. index is becoming “increasingly technological” as tech firms replace traditional blue-chips. Nike’s fiscal-year 2026 results showed flat reported revenue of $46.4 billion (-2 % FX-adjusted) and net income of $3.1 billion (-3 %). Nike Direct generated $17.7 billion, down 6 % YoY, while wholesale revenue rose to $27.5 billion (+6 %). The removal coincided with high-profile setbacks: French football star Kylian Mbappé left for Swiss competitor On, and Converse faced backlash over a controversial ad.

Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure

Timeline

  • Sept 4 2026 – S&P Dow Jones announced the quarterly review.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • June 30 2026 – Nike reported Q4 EPS of $0.20, beating consensus.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Sept 9 2026 – Executives sold shares at $37.59 under pre-arranged plans.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Sept 18 2026 – Nike closed at $35.51, down 4.3 %.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Sept 20 2026 – Media reported the upcoming removal.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Sept 21 2026 – Removal became effective before the opening bell.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Oct 1 2026 (scheduled) – Next quarterly results after market close.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Oct 20 2026 (scheduled) – Launch of a new fan collection ahead of the North American basketball season.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure

Data & Statistics

  • Fiscal 2026 revenue: $46.4 billion (-2 % FX-adjusted).
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Digital sales decline: 12 %; physical-store sales decline: 4 %.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Stock price (Sept 21): $35.51; market cap: ? $53 billion.
Nike stock heads into the open after a 4.3 percent slide

Criticism & Opposition

Analyst Elena Fernández-Trapiella of Bankinter argues Nike’s decline reflects internal missteps and a “very adverse sector context” that includes tariffs, raw-material cost rises, and intensified competition from Adidas and On. She notes the S&P 100 exit “impacts its image” and could trigger reduced demand from index-linked funds.

What's Happening with Nike? Today it loses its place in the S&P 100 after almost 18 years: "It will impact its image"

Conflicting Reports & Gaps

Sources differ on the magnitude of Nike’s market-value erosion. Mundoamerica reports a 77 % loss, while ad-hoc-news cites a ? 45 % decline from the 52-week high. No unified figure is provided.

Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure

Verbatim Quotes

  • “After an aggressive inventory reduction policy through discounts, Nike has to demonstrate that renewed innovation and focus on the 'running' segment bear fruit,” — Elena Fernández-Trapiella, Bankinter.
What's Happening with Nike? Today it loses its place in the S&P 100 after almost 18 years: "It will impact its image"

What’s Next

  • Oct 1 2026: Nike will report earnings, with consensus EPS projected at $0.44. Analysts will watch for revenue stabilization.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure
  • Oct 20 2026: Nike plans to roll out a new fan collection tied to the North American basketball season.
Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure

The index removal, sales pressure, and heightened competition mark a pivotal moment for Nike’s strategic direction and investor sentiment.

Nike stock falls as S&P 100 removal and analyst downgrades deepen pressure