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Companies and Brands

Nike Worst Performing Dow Stock Of 2016, Down 17.6%

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By Douglas A. McIntyre Updated Published
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Nike Worst Performing Dow Stock Of 2016, Down 17.6%

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Shares of Nike (NYSE: NKE) have been slaughtered in 2016, down the most of any Dow (DJIA) stock. Shares have fallen 17.8% to $51.52 this year. The Dow is higher by 9.9% for the same period to 19,152

Nike is no longer the growth stock it once was, although revenue growth is healthy. Recently, it has faced a resurgent Adidas, the second largest company in the category, white-hot Under Armour (NYSE: UA), and China’s Anta Sports Products

Another drag on Nike shares are the extent to which athlete endorsers are critical to sales. Nike has the grandfather of these in Michael Jordan, but he is years past his basketball career. Nike competitors have tried to flank it in every sport from soccer to basketball. Large endorsement deals can be work in the tens of millions of dollars.

In its most recent fiscal quarter, Nike’s results:

• Revenues up 8 percent to $9.1 billion; 10 percent growth excluding currency changes*
• Diluted earnings per share up 9% to $0.73 compared to prior year
• Worldwide futures orders up 5 percent; 7 percent growth excluding currency changes
• Inventories as of August 31, 2016 up 11 percent

Wall St. may not consider 10% real growth

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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