re: is there any hope for NKE?

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What would it take for a turnaround?

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Focus on great athletic shoes.

Not on political issues.

what? What “should” it be doing?
revenues are declining is why the stock is going down. I’m questioning what they could do about it.

they are still the largest apparel company in the world by annual sales

I went to Academy Sports today looking for a deal on some new running shoes. Typically Labor day they have some good sales. Last shoes I bought in there was 4 years ago labor day, I bought some Asics for $40 marked down from about 70, that's been my best athletic shoes ever. None of the seams or soles have came apart, but just a little wore out. But today I was gonna give another brand a try and was trying on different 12's for 2 hours, walking around in them. The Nike weren't as comfortable as Asics in the same price range and build quality so i went with another pair of Asics in the same price range. I thought the store was pushing: Brooks, New Balance, Armour,. (i didn't know armour sold shoes) the most. Adidas , Reebok, Asics and Nike were kind of an after thought. The Brooks and New balance were too high compared to the Asics and mostly not on sale. I think I gave 60 for these and they're normally 75 but super comfortable. Gel Venture 11

As far as the stock it would have to get down pretty flat for a few months before I'd try some. I'm sure it's one of those you can eventually buy it right and double your money in a week

Who are the high profile athletes that have Nike deals. I can't really think of any off the top of my head. The guys that still sell the most shoes seems to be MJ and Kobe.

LeBron is Nike, right? Giannis? KD?

What is Nike's current signature slogan? I had to look it up. It is "Why do it?". It's a play on the iconic "Just do it.", but it's lame and has no edge to it. "Just do it" told people not to think about it, just do it. The new slogan sort of asks you to stop and reflect in order to come up with a reason to excercise. Their marketing has really gone to shite.

my man

You are really bad if you destroy your stock this quickly. The most popular, recognizable brand. The marketing dept screwed them severely with attaching themselves with political issues that alienate customers.
I'm not sure why China market has dropped so much, but a big part of this is the American economy and China economy being weak. I believe ON is having trouble as well.

I haven't had a NIKE if forever but my daughters wear them and them seem to be still a decent quality. I have had ON's before and they are a good shoe.
But I have a pair of Hokas that have held up incredibly well. I don't run but wear running shoes everyday to work. The Hokas are very well made. I've thrown them in the washer twice in the last year and a half, and there isn't a stitch popped or thread loose anywhere. Tread is still there and they are still very comfortable.
They comfort and running shoe market has gotten very competitive. That's another issue.

Colloquial opinion (not investment advice)

I’ve used the Nike Running App religiously for the past eight years.

The folks featured and pictured has mirrored the stock value as to wokeness; in ‘21 it was full of images of folks who ran like I flew the Space Shuttle.

It was only because I had/have friends & family also on the app that I have stayed with it.

The apps images have improved now to depict realistic images of people who are in reasonable (to elite) shape. I understand that not everyone can be a fitness expert, previously none or few of those pictured were and there was agenda tied to the vast majority of the folks pictured.

I still don’t use their gear to run with, I’m an ASICS or Brooks shoe guy and New Balance clothes.

As far as leisure wear, as others have said, everyone in my demographic has moved away from Nike to niche brands or ON, Huka, Adidas, etc.

So I consider the “fall” of the Nike brand and stock value to be not surprising.

All large apparel brands are hurting because new competitors are emerging after realizing how easy it is to start and make money on apparel. The formula is simple. Source cheaply made clothes from the same Chinese factories that everyone uses + pump money into google and instagram ads

Seems to me that there are plenty of causes they could attach their name to without being political. Signing Dylan Mulvaney was crazy. If they had created or promoted charities to end hunger, poverty, and homelessness, they could still sell shoes to Republicans. Instead, they went with trendy political causes like BLM, Trans, and racism.

I think a lot of the problem is their employees. They have a lot of gay folks working for them at all levels. Their stores have a lot of social justice warriors working for them. It has been a haven for leftists, and I think that influences people in the executive offices...