Nike Q3 Earnings Beat Estimates as Turnaround Gains Traction, but China and Tariffs Still Hurt

Nike shares slipped in after-hours trading Monday, part of a broader pullback as U.S. President Donald Trump’s unexpected global tariff plan reignited worries around trade policy.

Nike Inc shares are set to start Monday with trade policy once again front and center. U.S. President Donald Trump announced plans to hike the temporary global tariff on U.S. imports to 15% from the current 10%—pushing the levy to the ceiling permitted under Section 122 of the Trade Act of 1974. That law is rarely invoked and could end up facing new legal challenges.

Nike Inc slipped 0.32% to finish Friday at $65.40, bouncing between $68.49 and $63.33 during the session. The week wrapped up with shares under pressure, as traders digested a U.S. Supreme Court ruling that overturned President Donald Trump’s sweeping emergency tariffs.

Nike Inc finished Friday’s session at $65.40, slipping 0.32%. Shares saw a low of $63.33 and topped out at $68.49. Roughly 33.4 million shares traded hands.

Nike shares dropped 0.6% to $65.52 in Monday afternoon trading, despite Jefferies reaffirming its buy rating and naming the sportswear giant its top large-cap pick for 2026. Analyst Randal Konik said he “would buy shares aggressively” ahead of this week’s ICR consumer conference and maintained a $110 price target.