Nike profit warning drags down Lululemon, On, Under Armour and Deckers Outdoor shares
AI Market Summary
Nike's earnings miss and sharply lower full-year guidance signal sustained demand weakness and heavier discounting across sportswear, raising risk of margin compression and inventory overhang for peers. Nike Brand sales fell 4% with a 13% drop in online sales, while China and Converse revenues sank. The read-through pressured major competitors in premarket trading, highlighting broader sector headwinds and potential spillover to wholesale partners.
Impact level
● Medium
Affected assets
NCSKNKE2USD/USDT-0.55%
AI Insight · NCSKNKE2USD/USDTAI Insight
▼ Bearish
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Nike issued a profit warning as its full-year earnings guidance came in well below analyst expectations. The company said revenue in its sportswear business fell by low double digits, Nike Brand sales slipped 4%, online sales dropped 13%, and Converse revenue fell 28%. The update weighed on sportswear peers, sending shares of Lululemon, On, Under Armour and Hoka parent Deckers Outdoor lower.
