Nike announced a new multi‑year cost‑efficiency program with about $1 billion in pre-tax charges, as fiscal Q1 revenue and earnings slip and Greater China demand weakens.

Nike (NKE) will exit the S&P 100 this week after nearly two decades, while analysts downgrade amid continued pressure on recovery strategy and sales trends.

Nike named Alexandre Arnault to its board on Sept 15, with UBS and Telsey cutting price targets amid brand challenges and slowing recovery.

Nike stock nears a decade low as BMO initiates coverage with an Underperform rating, citing structural pressures and weak sector outlook in recent days.

Nike will be removed from the S&P 100 ahead of trading on Sept. 21, ending an 18‑year inclusion as its stock nears 12‑year lows amid large market cap losses.

JPMorgan downgraded Nike’s EPS outlook this week, citing sluggish sales in China and intense competition, intensifying pressure on NKE shares.