According to Interbrand, Nike is the world's 23rd-most-valuable brand, yet its stock was down 80% from its 2021 peak as of Oct. 12. In fiscal Q1 2027 (ended Aug. 31), revenue fell 4% year over year to $11.2 billion, missing analyst estimates, with Greater China down 22% and North America up 2%. Performance and running sales grew, while sportswear and Jordan declined. Management expects fiscal 2027 revenue to fall by high single digits and will hold an investor day next month. At $35.11 a share, the stock sits at a 13-year low, and the author views it as a risky turnaround bet that calls for caution.
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