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Story summary
- Nike's share price fell to $33.87 on Oct. 1, its lowest in over 12 years.
- CEO Elliott Hill sent an 860-word memo on Oct. 1 stressing sport as central to the company.
- Nike expects additional layoffs in 2027 after two staff reductions earlier in 2026.
- Nike delayed Caitlin Clark’s signature sneaker, moving its October release after a June postponement.
- Nike’s stock has fallen 81% from its November 2021 high of $177.51 per share.