Nike’s stock is one of the worst in the S&P 500 — and BofA says it’s not done sliding
BofA analysts say they now expect falling sales through May, dashing prior hopes for a “spring inflection.”
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# Nike's Downturn Deepens as BofA Cuts Outlook Bank of America has downgraded its outlook on Nike, now forecasting continued sales declines through May 2024 and abandoning previous expectations for a near-term recovery, positioning the athletic apparel giant as one of the S&P 500's worst performers. The revised guidance suggests Nike faces extended headwinds that will delay any anticipated "spring inflection" in its business recovery.
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