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  "path": "/money/nike-shares-crash-to-10-year-low",
  "publishedAt": "2026-04-02T21:07:33.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Pressure mounts on Ed Miliband after SNP softens stance on North Sea oil",
    "Sir Jim Ratcliffe backs Tory pledge to scrap Net Zero levies amid 'killing British industry' fears",
    "Leisure operator collapses into administration putting 100 sites at risk as councils step in",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nNike shares have fallen to their lowest level in more than a decade, marking a sharp decline for the American sportswear company.\n\nThe drop on April 1 leaves the business down around three-quarters from its peak valuation in 2021.\n\n###\n\n\n\n\nThe company is now valued at less than £68billion, placing it significantly below the market capitalisation of retailer TJ Maxx.\n\nInvestor sentiment weakened further after Nike forecast a four per cent decline in revenue for the current quarter.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe projected fall equates to roughly £500million in reduced sales across footwear, sportswear and apparel.\n\nThe company is facing challenges across several fronts, including weaker consumer demand, changes to its retail strategy and declining performance in China.\n\nNike’s previous shift away from wholesale partners has affected its visibility in key markets.\n\nUnder former chief executive John Donahoe, the firm reduced its presence with major retailers such as Foot Locker and Dick's Sporting Goods in favour of direct-to-consumer sales.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nThe move aimed to improve margins but resulted in reduced shelf space and exposure to customers.\n\nCompetitors including Adidas, Hoka and On have expanded their market share during this period.\n\nNike has since taken steps to reverse some of these decisions, including returning to Amazon in May 2025 after a five-year absence.\n\nThe company’s performance in China has also deteriorated, with sales in the region falling 11 per cent in the latest quarter.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Pressure mounts on Ed Miliband after SNP softens stance on North Sea oil\n  * Sir Jim Ratcliffe backs Tory pledge to scrap Net Zero levies amid 'killing British industry' fears\n  * Leisure operator collapses into administration putting 100 sites at risk as councils step in\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nRetail analyst Neil Saunders said: \"Nike is still falling out of favor with customers who find other brands, including local ones, more appealing.\n\n\"Nike needs to find a way to better connect with Chinese consumers.\"\n\nChief executive Elliott Hill, who took over the role in October 2024, acknowledged the scale of the challenge facing the business.\n\nMr Hill said: \"I'm so tired, and I know you are, too, of talking about fixing this business.\"\n\n###\n\n\n\n\n###\n\n\n\n\nHe added: \"I want to move to inspiring and driving growth and having fun.\"\n\nNike has also faced scrutiny over aspects of its brand positioning and marketing strategy in recent years, with Conservatives criticising the brand for a shift towards 'woke' culture.\n\nIt faced backlash over partnerships with political activists such as Colin Kaepernick, who protested during the US national anthem, and its all-female Super Bowl advert.\n\nThe combination of falling revenues, shifting strategy and increased competition has contributed to the recent decline in its market value.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Nike shares crash to 10-year low as critics cite 'woke push' amid sharp sales drop"
}