耐克披露财报后，股价大跌

Core Viewpoint - Nike's stock price dropped over 10% following the release of its Q2 FY2026 earnings report, leading to a potential market value loss of nearly $10 billion if the trend continues [1][3]. Financial Performance - For Q2 FY2026, Nike reported revenue of $12.427 billion, a year-over-year increase of 0.59%, while net profit fell by 32% from $1.163 billion to $792 million [3]. - Diluted earnings per share were $0.53, down from $0.78 in the same period last year [3]. - Barclays lowered Nike's target price from $70 to $64 following the earnings report [3]. Regional Performance - Nike attributed the profit decline to increased tariffs in the U.S. and ongoing weakness in its China operations [3][4]. - North America showed revenue growth, which was a highlight, while the Greater China region saw a 17% revenue decline to $1.7 billion, with a 49% drop in EBIT [3][4]. - Converse brand revenue fell by 30% to $300 million, reflecting declines across all regions [3]. Future Outlook - Nike expects Q3 FY2026 revenue to decline in the low single digits, with moderate growth anticipated in North America [5]. - The company is facing challenges in its China business and the Converse brand, which continues to struggle [5]. - CEO Elliott Hill indicated that the recovery process is ongoing but not linear, emphasizing the need for decisive actions to accelerate recovery in lagging areas [5][6]. Strategic Challenges - Nike's direct-to-consumer strategy has faced difficulties, prompting a need to re-establish relationships with wholesale partners [6]. - Analysts noted that while there are signs of progress, significant work remains to be done, particularly in key categories like basketball and activewear [6]. - Overall, Nike's stock has underperformed, with a 30% decline over the past year, contrasting with a 15.4% increase in the S&P 500 during the same period [6].