Nike will be removed from the S&P 100 index before trading begins on September 21. The company has been part of the index for nearly 18 years. Since its peak in 2021, Nike has lost more than $200 billion in market capitalization.
The index reshuffle includes the entry of Palo Alto Networks, Dell Technologies, Arista Networks, and Sandisk. Nike will remain listed in the S&P 500. The company faces ongoing revenue pressure, with further declines expected through the first half of fiscal 2027.
Sales in Greater China dropped significantly during the fiscal fourth quarter. Nike is currently competing against brands such as Adidas, On, and Hoka. While wholesale revenue and North American performance have shown improvement, the company reports uneven sell-through.
Consumer shopping habits are shifting toward AI-driven discovery. A July report indicated that 57% of millennials use Google for product discovery, while 41% use ChatGPT. Additionally, 43% of consumers express interest in linking digital wallets to AI agents for purchases within two years.
