# Nike's fall from the S&P 100, explained

> Nike just got dropped from the S&P 100 after 18 years, and OutKick's panel has theories about who the company lost.
- Title: Nike's fall from the S&P 100, explained · OutKick | Shortify
- Summary: Nike just got dropped from the S&P 100 after 18 years, and OutKick's panel has theories about who the company lost. Nike's slide is less about one bad…
- Keywords: nike, retail, stocks, branding, sports business, news, politics, Nike's, fall, 100, explained, OutKick
- Source: OutKick — https://foxnews.com/outkick-sports/dan-dakich-says-women-might-reason-nikes-downfall-they-p-d-them-off
- Author: Austin Perry
- Published: 2026-09-12T00:00:00+00:00
- Read time: 1 min
- Topics: nike, retail, stocks, branding, sports business, news, politics
## Dropped from the S&P 100
Effective Sept. 21, Nike leaves the S&P 100 after an 18-year run. The slide behind it has erased roughly $200 billion in market value.
## Mocked for the jerseys
A low-effort NBA jersey series got shredded online, the kind of public ridicule a company known for design is not supposed to attract.

> It's no secret at this point that Nike is taking a nosedive.
## Coasting like Disney
Dan Zaksheske sees complacency more than anything. A brand built on invention stopped inventing and started living off its back catalogue.

> They're just resting on their laurels. They're not creating anything new.
## They ditched the stores
Jason Hammer, citing Fox Business's Taylor Riggs, points to the direct-to-consumer bet. Nike pulled back from retailers right as post-COVID shoppers wanted to walk into a store again.

> They gave a middle finger to the retailers.
## It's not just Adidas anymore
Dakich's own answer is competition. Athleta and Lululemon are booming, so the old two-horse choice between Nike and Adidas is gone.

> It used to be Nike or Adidas, which one are you going to buy?
## The customer they lost
Dakich argues Nike insulted the people actually doing the buying. Women, he says, walked away, and the brand's messaging is what pushed them out.

> Women have said, 'Bulls, -, don't insult us,'
## Key takeaway

Nike's slide is less about one bad decision than a stack of them: no new ideas, burned retailers, fresh rivals, and an alienated core customer.