Nike set to leave S&P 100 as sportswear giant struggles with falling sales and market value
- Nike is set to leave the S&P 100 on September 21 as its stock falls 76% in five years.
- Nike’s market value falls to about $57 billion from $264 billion at the end of 2021 amid weaker sales.
- China, Nike’s third-largest market, sees sales decline for eight straight quarters as local rivals gain ground.
- Nike faces growing competition from Hoka, On, Adidas, Anta and Li Ning as it works to rebuild its brand.
Source: economictimes.indiatimes.com
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