Nike Shares Plummet to 9-Year Low on China Revenue Forecast

Swoosh stumbles as sportswear giant's stock crashes nearly 18% in a single day.

Apr. 1, 2026 at 10:25pm

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Shares of Nike (NYSE: NKE) plummeted to a nine-year low of $48.12 on Wednesday, losing nearly 18% of their value in a single trading session. The crash came after the world's largest sportswear brand issued a grim forecast for its China revenue, sending shockwaves through Wall Street.

Why it matters

Nike's struggles in China, its second-largest market, are a major concern for investors as the company faces increasing competition and consumer shifts in the crucial Asian market. The steep stock decline underscores the brand's vulnerability and the broader challenges facing global retailers navigating geopolitical tensions and economic headwinds.

The details

Nike reported that its China revenue is expected to decline in the current quarter, citing ongoing COVID-19 disruptions and weakening consumer demand. This marks a sharp reversal from the company's previous optimism about its prospects in the region.

  • Nike reported its China revenue forecast on Wednesday, April 1, 2026.

The players

Nike

The world's largest sportswear brand and a publicly traded company on the New York Stock Exchange.

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The takeaway

Nike's struggles in China, its second-largest market, have sent shockwaves through Wall Street and underscored the brand's vulnerability to geopolitical tensions, COVID-19 disruptions, and shifting consumer preferences in key global regions.