Nike’s stock has slumped to its lowest level in more than a decade.

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Nike’s stock has slumped to its lowest level in more than a decade after the sportswear giant warned sales will keep falling through 2026.

Shares hit an 11-year low on April 1, capping a brutal stretch that has seen the company lose around 75 percent of its value since shares peaked in 2021.

It is now worth under $68 billion - a third of the value of TJ Maxx.

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The latest sell-off was triggered by a bleak outlook, with Nike forecasting sales will slump 4 percent this quarter - a staggering $500 million fall in the value of shoes, tracksuits, and t-shirts.

The brand is being hit by a triple whammy: backlash to its more ‘woke’ image shift, a failed retreat from major retail partners in favor of direct-to-consumer selling, and a deepening slump in China.

The scale of the pressure inside Nike was laid bare in a recent all-hands meeting, where CEO Elliott Hill struck an unusually blunt tone with staff in a recording leaked to Bloomberg News.

'I’m so tired, and I know you are, too, of talking about fixing this business,' Hill said during the meeting. 'I want to move to inspiring and driving growth and having fun.'

'You can’t just sit there and say everything’s great,' Hill said, referring to the investor call. 'Frankly it needed to be different.'

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