一觉醒来！知名巨头耐克股价崩了

Core Insights - Nike's stock price dropped by 10.54% on December 19, 2025, marking a 22.41% decline year-to-date and a 23.85% drop over the past 52 weeks [1][8] Financial Performance - For the second quarter of fiscal year 2026, Nike reported a net profit decline of 32%, falling from $1.16 billion to $792 million, with diluted earnings per share decreasing from $0.78 to $0.53, surpassing market expectations of $0.38 [3][10] - Net sales reached $12.43 billion, a slight increase of 1% compared to the previous year, exceeding market expectations of $12.22 billion [3][10] - The Nike brand's revenue for the second quarter was $12.1 billion, growing 1% year-over-year, primarily driven by North American market performance, although offset by declines in Greater China and APLA regions [3][10] Regional Performance - Revenue in Greater China decreased by 17% to $1.7 billion, with EBIT dropping by 49%, indicating significant market challenges [3][10] - Direct-to-consumer sales fell by 8% to $4.6 billion, with digital sales down 14% and in-store sales down 3% [3][10] Wholesale and Other Segments - Nike's wholesale channel revenue grew by 8% to $7.5 billion, while Converse brand revenue plummeted by 30% to $300 million due to declines across all regions [4][11] - Footwear revenue remained flat at $7.7 billion, while apparel sales increased by 4% to $3.9 billion [4][11] Strategic Challenges - The decline in profits was attributed to increased tariffs in the U.S. and ongoing weakness in the Chinese market [4][11] - Analysts suggest that Nike must replicate its success in running shoes across other sports categories and improve its cultural connection in the Chinese market [5][11] - The company is refocusing on rebuilding relationships with wholesale partners after facing challenges with its direct-to-consumer strategy [5][12]