Correct me if I am wrong, pile on and expand if needed, here are 4 key things I am tracking, let's say this is last 4 years:
- March 2022 - Global supply chain issues slashed Nike's profit margins.
- September 2022 - Nike overbought inventory to counter supply chain problems, leading to a ~50% investor surplus (not great for the balance sheet).
- June 2023 - Inflation hit hard, and people cut back on discretionary spending, squeezing Nike's profit margins. Nike's stuck in that awkward middle ground of not being cheap but not luxury either.
- June 2024 - Last month, Nike gave some of its most pessimistic FY2025 guidance yet, signaling that turning things around and rolling out new product lines is gonna take way longer than expected.