Nike reported shrinking profits and challenges in China in its fiscal 2026 second-quarter results. Despite slight revenue growth, earnings per share fell 32% year over year. Nike Direct revenue dropped 8%, with digital sales down 14%. Sales in Greater China declined 17%. Management anticipates a slight revenue decline in the third quarter. With weak demand, tariffs, and declining direct-to-consumer sales, Nike faces significant challenges. Shares may not be a buy yet, as turnaround efforts continue. The Motley Fool Stock Advisor team does not currently recommend Nike as one of the top 10 best stocks to buy.

Read more at Nasdaq: Nike Stock Plummets. Time to Buy?