Nike's persistent underperformance is challenging our long term view on the stock
By Natasha Abellard
Published on March 3, 2026.
Nike's difficult turnaround under CEO Elliott Hill is taking longer than expected and is challenging our long-term view on the stock. The company's shares have dropped more than 6% year to date. Wells Fargo has removed Nike from its list of "top picks" and lowered its fiscal 2027 earnings per share estimates to below Street estimates due to concerns about international growth. Despite this, the analysts noted a long road ahead for Nike's China business, which was largely responsible for the company's 10.5% decline in December after a better-than-expected fiscal 2026 second quarter. Nike's CEO, Hill, has stated that he recognizes China as a major priority and has implemented strategies to win back business in the world's second-largest economy.
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