Nike to Leave S&P 100 as Shares Endure Sharp Decline

Nike will be removed from the S&P 100 before market opening on 21 September as part of the index’s quarterly rebalancing, according to Yahoo Finance. Palo Alto Networks will take its place.

The change ends Nike’s nearly 18-year run in the index but does not affect its membership of the broader S&P 500. It follows a roughly halving of Nike’s share value over the past year, amid weak digital sales, difficulties in Greater China and a complex turnaround.

Nike shares were trading at about US$37, near a 52-week low of US$36.98. Recent results showed wholesale revenue growth, but Nike Direct revenue fell 7%, including a 12% decline in Nike Brand Digital. Converse revenue dropped 32%, while Greater China remained under pressure.

Nike’s fiscal fourth-quarter revenue was about US$11 billion, down 1% from a year earlier on a reported basis and 4% on a currency-neutral basis. Adjusted earnings per share came in at US$0.20, compared with an estimated US$0.11.

Reported gross margin rose to 49.2%, helped by US$986 million in benefits from the expected recovery of IEEPA tariffs. The tariff recovery also contributed US$0.52 to reported diluted earnings per share, which was US$0.72.

Nike is due to report fiscal first-quarter 2027 results after market close on 1 October. Analysts tracked by Barchart hold a “Moderate Buy” consensus, with a mean price target of US$49.98, though such estimates are subject to change and are not guaranteed outcomes.