The Acquirers Podcast · Thursday, October 1, 2026
The discussion highlights Nike's significant stock decline, down about 80% from its peak, attributed to self-inflicted issues like alienating retailers and product missteps. While acknowledging the brand's power, the conversation notes that athletes now have more direct-to-consumer power, reducing Nike's leverage. Despite challenges, the potential for a turnaround exists if the valuation becomes compelling enough, though dividend cuts are a potential concern.
“Nike is also, you know, they did everything that they shouldn't have done. You know, they alienated retailers. They had bad products, you know, Turnarounds are tough.”
“And the athletes needed Nike a lot more than Nike needed the athletes. Now athletes can go kind of direct to consumer in terms of their image and everything. So Nike has lost a little bit of that power there.”
“But if it sells at a cheap enough multiple, it's it might be worth taking a look.”