Nike Exits S&P 100 After 18 Years
Sportswear giant Nike will be removed from the S&P 100 after nearly 18 years in the index. S&P Dow Jones … Read More The post Nike Exits S&P 100 After 18 Years appeared first on ProPakistani .
Nike, the renowned sportswear company, will be removed from the S&P 100 index after 18 years, effective September 21, 2026, as part of routine quarterly adjustments by S&P Dow Jones Indices. Despite remaining in the S&P 500 classification, Nike's stock has suffered a significant decline, falling by approximately 78% since its peak in November 2021.
The decline has resulted in a loss of around $230 billion in market value, bringing Nike's market valuation down to about $57 billion from its previous peak of $280 billion. The company's struggles can be attributed to slowing sales, fierce competition, and difficulties in key markets, compounded by the company's aggressive direct-to-consumer strategy under former CEO John Donahoe.
This strategy led to the reduction of product categories and numerous wholesale partnerships, which proved to be a misstep as rivals like Dell Technologies and SanDisk gained ground. Massimo Giunco, a former Nike branding executive, attributes Nike's market value collapse to Donahoe's strategy, highlighting the company's tardiness in restoring its traditional product categories as it fell behind competitors.
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