Top Issues Dragging the Stock Down
Nike shares continued to struggle on Friday as the Swoosh ran into some notable obstacles as it continued its comeback bid in the second quarter.
Overall, the company did better than analysts predicted, but the weight of what’s needed to turn around Converse and Greater China led to the stock to take a double-digit hit on Friday.
On the company’s second quarter earnings call on Thursday, Nike president and chief executive officer Elliott Hill told analysts that the company is “in the middle innings” of its comeback, adding that various areas of the business are in different phases of turnaround.
“Fiscal year ’26 continues to be a year of taking action to rightsize our classics business, return Nike…
