Shares in legacy athletic apparel maker Nike ($NKE) plunged more than 10% on Friday after its Q2 2026 earnings results prompted price target cuts

The sportswear giant beat analyst expectations thanks to strong Americas sales helping to offset a China decline.

It's easy to see why investors are concerned. There was a time when China was a major tailwind for the company. Now, things seem to be moving backward, even as some competitors, like Lululemon, are experiencing strong sales growth in the market.

With his contract with Nike set to expire in the summer of 2026, Real Madrid megastar Kylian Mbappe is currently in the middle of tough negotiations to extend his partnership with the American

Nike made some progress with its turnaround plan in the fiscal second quarter, but expects to return to a sales decline in the current quarter, as weakness in China continues.

Nike Inc (NYSE:NKE) reports earnings for the second quarter of fiscal 2026 on Thursday after the market close.

Nike shares sank Friday, despite quarterly profits that topped analysts' estimates, as a weaker-than-expected outlook and headwinds in China weighed on sentiment.

Nike on Thursday reported a drop in gross margins for the second consecutive quarter, as poor sales in China and efforts to reset its product mix continued to vex the struggling sportswear giant, sending shares down 10%.

Nike stock plunged nearly 10% after the sneaker giant reported sliding profits due to an anticipated $1.5 billion hit from tariffs as well as a slowdown in China.

Barcelona’s future kits are already generating huge attention, and a new report from Mundo Deportivo suggests that Nike are preparing one of the most daring designs the club has ever seen for the

Devin Booker sent Stephen Curry his Nike Book 1s and openly confirmed recruiting the Warriors star after their Olympic gold medal run together.