Nike stock falls after weak China sales, margin pressure and cautious outlook despite earnings beat. Investors worry about growth and tariffs.

In second-quarter 2026 (ended Nov. 30, 2025), Nike collected $1.4 billion in revenue from its China segment, representing 11% of the company's total. But the country is currently a weak spot, with sales declining 17% year over year in the quarter. Nike is facing weak demand in China, even though there is a massive middle class there.

Nike's new CEO, Elliott Hill, made significant moves in 2025 to turn around the struggling sportswear brand, including a shake-up of its leadership.

Nike posted modest revenue growth and an earnings beat, but operational headwinds—ranging from elevated marketing spend to tariff-driven margin

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Quarterly sales rose slightly for the world’s largest footwear company despite weak results in China and with its Converse brand.

Nike on Thursday reported a small quarterly sales increase, the latest sign of progress in Chief Executive Elliott Hill’s ongoing turnaround plan. The sportswear company has reported sales increases in two consecutive quarters after breaking a streak of five quarters of declines, a rare slump for Oregon’s biggest company.

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