Nike Stock News

NEW YORK--(BUSINESS WIRE)--NIKE, Inc. (NYSE: NKE), the National Basketball Association (NBA) and the Women's National Basketball Association (WNBA) today announced a 12-year extension of their global outfitting, merchandising, marketing and content partnership that solidifies NIKE, Inc. as the leader in global basketball and as the exclusive on-court uniform and apparel provider for the NBA, WN...

Nike will be the exclusive uniform provider for the NBA and WNBA for another 12 years. The sneaker giant, which also designs uniforms for the MLB and NFL, has shored up its relationship with one of its most important allies as it struggles with falling sales and looks to hang on to its contract with the NFL.

Over a long enough time horizon, this consumer discretionary stock has been a big winner.

Nike has been a top performer since its 1980 IPO.

CNBC's Jim Cramer on Thursday gave investors his stamp of approval to buy some shares of Nike, but he warned that such an investment is tricky. Nike disappointed in its most recent quarterly report, and the sneaker retailer has just replaced its CEO.

Nike's struggles prompted a change in focus and strategy.

The company is undergoing a change in management at the top, which could have enormous implications for shareholders.

Nike shares remain a BUY due to attractive entry points from recent price declines and expected steady growth as the product range is refreshed. NKE's financial outlook slightly lowered due to weaker-than-expected sales and foot traffic, with revenue forecasts adjusted for 2025 and 2026. Gross margin expected to decline by 90 bps y/y, reflecting conservative assumptions and uncertainty about th...