NKE
NYSE · Consumer Cyclical · Apparel - Footwear & Accessories · US
Research · Sep 9, 2026
[NKE] Nike: Behind the Reported 42.9% Gross Margin, 40.8% Without the Tariff Credit
Nike's fiscal 2026 revenue was flat at $46,398 million and its 42.9% gross margin becomes 40.8% without the one-time tariff credit; the question is whether wholesale-led growth carries margin too.
Research · Sep 3, 2026
[NKE] Nike Thesis 2026: Hill Turnaround Year — Wholesale Rebuild + Innovation Reset + Inventory Normalization Test Brand Power Through Competitive Intensity
Nike FY2025 revenue ~$45-47B (-3-5%) with adj. EPS ~$2.90-3.20 reflecting turnaround year executing strategic reset under returning CEO Elliott Hill (took role October 2024; 32-year Nike career returning after 2-year retirement). FY2025 reflects deliberate revenue decline as Hill addresses Donahoe-era issues: selected DTC over-emphasis damaged wholesale relationships (Nike Direct grew to ~45% revenue at peak), innovation pipeline issues created Pegasus + Air Max franchise reliance, FY2024 inventory buildup ($9.5B peak vs $7B FY2021) requires selective markdowns. Geographic mix: North America 42% + EMEA 26% + Greater China 14% (multi-year weakness vs FY2021 peak; competitive intensity from Anta + Li Ning) + APLA 18%. Hill's first 90 days: traveled to selected wholesale partners (Foot Locker + Dick's + JD Sports + selected international), public Foot Locker partnership renewal late 2024, organizational reset, inventory normalization actions. Strategic reset 18-24 month timeline: FY2026 transition year + FY2027 expected inflection. Capital return: dividend $1.60/share (23 consecutive year increases) + buybacks $4-5B. FY2026 thesis: wholesale rebuild + innovation reset + inventory normalization restore margin recovery. Risks: turnaround takes 3+ years, Greater China weakness extends, competitive intensity from Hoka + On Running + Adidas continues compressing share.
Research · Jun 5, 2026
LULU Stock: Why Lululemon Cut Its Annual Outlook
Lululemon slashed full-year guidance and warned conditions will worsen first. What the cut signals about brand fatigue and the athleisure cycle.
Research · Apr 13, 2026
Trump Tariffs Under Fire From 24 States: TGT and NKE Are the Biggest Winners
24 states' tariff challenge could refund duties and cut costs for import-reliant retailers. Target and Nike top the list for exposure and valuation, with Walmart and Costco as resilient plays amid steady growth.
Research · Apr 13, 2026
Iran War Chaos Hits China Supply Chains — AAPL Ranked Most Exposed Among 6 US Giants
The Iran war's logistics disruptions as of April 11, 2026, are straining China's supply chains, exposing US giants like Apple and Nike to delays and cost hikes. We rank six tickers by vulnerability, with AAPL most at risk due to manufacturing reliance. Financials show resilient growth but thinning margins amid tariffs.
Research · Apr 13, 2026
UMich Warns Consumers Are Breaking — Why WMT and COST Win While NKE and SBUX Lose
UMich economist flags stretched US consumers amid high prices, driving trade-down to discounters like WMT, COST, TGT while hurting NKE, SBUX. Staples PG holds steady. Ranked picks favor value plays with strong financials.
Research · Apr 9, 2026
US Market Rebound Lifts APAC: TSM, BABA Among 6 Stocks Riding the Wave
US market rebound is set to lift Asian equities higher, per Bloomberg, spotlighting US-listed APAC plays like TSM, FXI, and BABA. TSM leads with 32% revenue growth and 93% 1Y returns, while BABA offers value at 21x P/E. Ranked conviction favors growth leaders amid global risk-on flows.