Nike Stock Suffers Worst Day Since April Tariff Shock

Nike shares sank after the sportswear maker projected sales would drop this quarter, weighed by ongoing China weakness.

Shares fell 10.5% to $58.71. That is their biggest one-day drop since April 3. Nike shares took a big hit that day following President Trump’s big tariff unveiling.

Friday’s closing level was the lowest for the stock since May 9, according to Dow Jones Market Data.

The company said late Thursday it expects revenue to decline by a low-single-digit percentage this quarter. It thinks China’s performance will be similar to last quarter, when footwear sales slid 21%.