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Tariffs, Oil Shocks, and Volatility: Is Nike Still Worth Owning in 2026?

Tariffs and oil shocks pressured Nike’s costs and consumer budgets in early 2026.
Nike's revenue declined 1% in the first three quarters when adjusted for currency effects.
Management shifted focus to rebuilding wholesale relations after a weaker direct-to-consumer push.
Nike saw a 5% gain in wholesale revenue, offset by a 7% drop in direct revenue.
Greater China weakness contributed to ongoing revenue pressure for Nike.
Nike's stock underperformed the S&P 500 in 2026 through April 16.
The company pursued a 'Win Now' strategy aimed at product innovation.
Analysts noted that Nike may need to look elsewhere for bargains amid headwinds.
Nike faces a challenging competitive landscape and pricing pressures in 2026.

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