On July 30, Nike fell 3.08% in regular trading, trading at $41.485/share, with turnover of $169 million. The stock continued to face selling pressure following the company's announcement of a sweeping restructuring of its China online distribution network.

Nike recently confirmed that starting January 2027, it will terminate online sales authorization for thousands of distributors in mainland China, retaining only official flagship stores on Tmall, JD.com, and Douyin alongside its owned digital channels. The move, led by newly appointed Greater China CEO Cathy Sparks, aims to reclaim pricing control and reduce channel fragmentation after years of rampant discounting eroded brand value. Key distributor Topsports confirmed that Nike online sales account for approximately 22% of its total revenue, involving roughly 5.6 billion yuan. Analysts at BNP Paribas called the decision a strategic mistake, while Citi termed it an extreme and risky strategy that opens the door for competitors to capture market share. Nike's stock has declined approximately 44% over the past year as the market remains skeptical about its ability to reverse two consecutive years of sales declines in China.

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