Key Points Nike has lost more than half its value in the past five years. The stock is facing headwinds like U.S. tariffs and declining revenue in China. Its CEO has a turnaround plan, but the athletic footwear market might be in decline. 10 stocks we like better than Nike › Nike (NYSE: NKE) is an iconic brand that has launched world-famous products and eye-catching ad campaigns. But the apparel company, known for Air Jordans and other celebrity athlete endorsements, is struggling to gain liftoff ...

日前，耐克大中华区管理层迎来重大变动。 2026年1月21日，耐克公司宣布，现任大中华区负责人董炜（Angela Dong）将于3月31日正式卸任。距离其升任此职位，仅过去不到15个月。 同时，耐克宣布任命资深高管Cathy Sparks为新任大中华区副总裁兼总经理。 图源：视觉中国 据耐克官方披露，董炜于2005年加入耐克，在2024年10月被提升为耐克大中华区董事长兼CEO，并同时担任ACG品牌全球CEO。 耐克方面表示，在过去二十余年间，董炜在大中华区担任多项重要领导职务。在董炜的带领下，耐克通过上海马拉松、耐克高中篮球联赛 （CHBL）、ACG崇礼168以及"下站东单"等标志性品牌活动，推动了大中华区的运动文化发展。 据时代财经报道，董炜同时也是耐克集团现任总裁兼首席执行官贺雁峰（Elliott Hill）的得力下属。2015年6月，当时担任耐克大中华区首席财务 官的董炜，晋升为集团副总裁兼大中华区总经理，彼时便直接向时任耐克区域及销售总裁的贺雁峰汇报工作。 事实上，这次人事调整的背景是耐克大中华区业绩的持续下滑。 从全球业绩来看，耐克2026财年第二季度总营收为124.27亿美元，同比微增1%，但净 ...

格隆汇1月22日｜投行KEYBANC将耐克目标价从90美元下调至75美元。 ...

2026 年 1 月，耐克大中华区换帅，Cathy Sparks 接替董炜，同步全球多区域高管调整，配合"Win Now"等战略，从组织、渠道、产品、本土化发力，应对竞品挑战与渠道问题，寻求中国市场增长。 本土化场景构建同样发力。篮球领域，通过"耐高联赛（耐克中国高中篮球联赛）""下站东单"等赛事覆 盖1.1万余名现场观众，扎根校园与街头社群；跑步领域，启动"2025 AFTER DARK TOUR"女子夜跑系 列赛，触达女性消费群体，强化品牌与本土运动文化的绑定。 机遇与挑战 耐克大中华区的转型机遇仍集中在专业运动赛道与消费升级潜力。数据显示，跑步品类连续两个季度增 长20%，北京汉光百货改造后跑步鞋销售额上涨25%，印证了耐克在专业领域的技术积累仍具竞争力。 同时，中国运动消费市场规模持续扩大，年轻群体对专业运动装备、运动生活方式的需求增长，为耐克 提供了结构性机遇。 北京时间2026年1月21日，耐克集团宣布重大人事调整，现任大中华区董事长兼CEO董炜（Angela Dong）将于3月31日正式卸任，结束近20年耐克职业生涯；同时任命耐克亚太及拉美区（APLA）前副 总裁兼总经理Cathy Sparks ...

Investment Rating - The report maintains a "Positive" investment rating for the textile, apparel, and luxury goods industry [9]. Core Insights - The current inventory replenishment cycle in the U.S. apparel industry is characterized by weak elasticity due to several factors, including K-shaped consumer spending, misalignment in brand recovery rhythms, and constraints faced by comprehensive sports brands [3][6]. - Despite the transition from inventory destocking to replenishment, the expected rebound in manufacturing performance and market response has not materialized as anticipated [6][19]. - The report forecasts limited replenishment elasticity in the near term, with potential improvements in terminal demand expected after the current interest rate cycle concludes [3][8]. Summary by Sections Introduction - The report discusses the weak momentum in the current manufacturing replenishment cycle, noting that the U.S. apparel industry has transitioned to a phase of active replenishment after reducing inventory to healthy levels since Q1 2023 [6][17]. Analysis of Weak Replenishment Cycle - **Macro Perspective**: U.S. consumer spending is experiencing K-shaped differentiation, where high-income households support overall consumption while lower-income households face suppressed purchasing power and willingness to spend [7][32]. - **Brand Perspective**: The misalignment in recovery rhythms among brands has diluted overall replenishment elasticity, with brands like Adidas and Deckers already undergoing several quarters of replenishment without strong retail catalysts [7][30]. - **Industry Perspective**: The growth potential in the sports category is diminishing due to factors such as slowing penetration rates, reduced technological innovation, and diminishing returns from direct-to-consumer (DTC) strategies [7][30]. Future Replenishment Elasticity Expectations - In the short term, historical inventory cycles suggest that mature brands may experience shorter replenishment periods, while growth-oriented brands could see longer cycles [8][19]. - The report indicates that after the current interest rate cycle, retail demand may improve, leading to a more resilient growth trajectory for top brands transitioning into replenishment phases [8][19]. - Recommended stocks include Crystal International and Shenzhou International, with a focus on companies like Wah Lee and Yue Yuen [8][19].

耐克公司1月21日宣布，现任大中华区领导董炜（Angela Dong）将于3月31日正式卸任。同时，宣布任 命Cathy Sparks女士为新任耐克大中华区副总裁兼总经理。 在卸任公告中，耐克对董炜进行了高度评价，称她从2005年加入耐克以来，在过去二十余年间，她在大 中华区担任多项重要领导职务。 "在其任期内，耐克深度参与并见证了大中华区体育、文化及业务发展的多个里程碑，包括北京奥运 会、中国消费者与数字生态的迅速崛起、以及全球疫情期间的挑战与复苏。在董炜女士的带领下，耐克 通过上海马拉松、耐克高中篮球联赛（CHBL）、ACG 崇礼 168 以及"下站东单"等标志性品牌活动，持 续推动大中华区的运动文化发展。" 对于她的卸任，耐克"衷心感谢董炜女士凭借卓越的战略视野、深厚的市场洞察和领导力，为这一关键 市场所做出的长期贡献，并祝愿她在未来一切顺利。" 同时，对于即将接任耐克大中华区副总裁兼总经理的Cathy Sparks，耐克表示，在公司已有25年的工作 经验，从波特兰 Niketown 门店的零售岗位开启职业生涯，随后在全球多个市场担任重要领导职务。 Cathy Sparks前担任耐克亚太及拉美区(APL ...

南都·湾财社记者注意到，此次人事变动发生于耐克大中华区业绩持续承压的背景之下。公司最新财报显示，截至2025年11月30日的2026财年第二季度， 耐克大中华区营收同比下滑17%，息税前利润（EBIT）则大幅减少49%。这一业绩与耐克总裁兼首席执行官贺雁峰（Elliott Hill）此前"大中华区是优先事 项清单首位，需要加快行动步伐"的表态形成对照，市场普遍将此次换帅解读为耐克总部为扭转中国市场颓势而采取的关键举措。 本文自南都·湾财社 采写 | 南都·湾财社记者 孙阳 编辑 | 柴华 1月21日，耐克公司公告称，现任大中华区董事长兼CEO董炜（Angela Dong）将于3月31日卸任。其职位将由在耐克拥有25年零售经验的凯茜·斯帕克斯 （Cathy Sparks）接替。 然而，官方的赞誉与市场业绩形成了鲜明反差。根据最新财报，在截至2025年11月30日的2026财年第二季度，耐克大中华区营收同比下降17%，其中数字 业务下滑36%，批发业务下降15%，EBIT（息税前利润）降幅达49%。 这一数字，对于曾常年以"最亮眼增长引擎"形象出现在财报中的大中华区而言，无疑向耐克全球总部拉响了警报。耐克首席执行 ...

来源：耐克 即便近些年耐克全球的高管调整加速，但董炜的离开，似乎并不在集团的计划之中。 耐克对中国市场复苏的耐心，似乎正在减少。 近日，耐克官宣大中华区董事长兼CEO、ACG品牌全球CEO董炜，将于3月31日离职。她在耐克任职超过20年，是见证和助推耐克在中国市场快速增长的 核心人物之一。 耐克在官宣的新闻中表示，董炜 以其卓越的领导力、对中国市场和业务的深刻理解，以及在应对复杂多变的挑战中发挥了关键领导作用。当中的节点包 括08年奥运会、中国电商爆发以及疫情的挑战。 耐克同时官宣了接替 董炜的人选，一位同样在耐克任职超过25年的老将——耐克APLA（亚太及拉丁美洲市场）副总裁兼总经理Cathy Sparks，她将担任 大中华区的副总裁兼总经理。 就在2024年10月，耐克官宣 董炜升任大中华区董事长兼 CEO ，及 ACG 品牌全球 CEO。当中不仅包括是对大中华区业务的全面管理，更首次将赋予重望 的户外类目ACG子品牌的全球业务，交到了这位大中华区的20年「老耐克」手上。 但到2025年，耐克大中华区连续几个季度正增长的势头被打破。在刚刚过去的2025财年第四季度，耐克大中华区营收为14.8亿美元，同比大 ...

Group 1 - The U.S. stock market saw collective gains with the Dow Jones up by 1.21%, Nasdaq by 1.18%, and S&P 500 by 1.16% [4] - Notable increases in storage stocks, with SanDisk rising over 10% and a year-to-date increase of over 111% [4] - International oil prices experienced slight increases, with light crude oil futures up by 0.43% to $60.62 per barrel and Brent crude up by 0.49% to $65.24 per barrel [4] Group 2 - The Chinese government announced a temporary exemption from personal income tax on capital gains from the transfer of CDRs for individual investors from January 1, 2026, to December 31, 2027 [6] - The Ministry of Industry and Information Technology emphasized the need for a safety monitoring platform for the operation of new energy vehicles [7] - The Ministry of Housing and Urban-Rural Development plans to promote smart construction and new building methods during the 14th Five-Year Plan period [8] Group 3 - The People's Bank of China called for accelerated construction of a cross-border payment system to enhance connectivity in cross-border payments [9] - The State Financial Supervision Administration released new regulations on administrative licensing procedures to improve the efficiency and standardization of financial regulatory processes [8] Group 4 - Longfor Group responded to rumors about splitting its global telecommunications business for independent listing, stating no decisions have been made [13] - Temu's Turkish office faced a dawn raid, marking a second incident in Europe within a month, raising concerns about compliance risks for cross-border e-commerce [15] - Pinduoduo was fined 100,000 yuan for failing to report tax information as required, highlighting regulatory scrutiny in the e-commerce sector [17] Group 5 - Nike announced a leadership change in its Greater China region, with Angela Dong set to step down and Cathy Sparks appointed as the new vice president and general manager [22] - New Oriental launched a "retirement club" aimed at engaging retirees in educational and social activities, reflecting a trend in elder education and wellness [24] - Zhipu AI announced a temporary limit on the sale of its GLM Coding Plan due to increased demand and resource constraints [26]

This audio is auto-generated. Please let us know if you have feedback Dive Brief:Nike is reorganizing its regional senior leadership team, CEO Elliott Hill announced in a note to employees Tuesday. Carl Grebert, vice president and general manager of the Europe, the Middle East and Africa region, and Angela Dong, chairman and CEO of the Greater China region, will exit the company. César Garcia will take over Grebert’s role starting Feb. 2, as Grebert retires from a roughly 30-year career at Nike. Garcia has ...