NKE · News · 20260918N
Competition and Market Position
NIKE, Inc. · 2026-09-18 · Importance 34 · Surprise 42 · In source text
Kylian Mbappé is leaving Nike after approximately 20 years to sign with Swiss sportswear company On. Nike chose not to renew Mbappé’s contract when it expired, with a source saying the company decided to allocate its endorsement spending elsewhere. The move gives On a higher-profile foothold in global soccer and adds to competitive pressure from newer sportswear brands that have attracted prominent athletes from Nike.
Key facts
- Kylian Mbappé is leaving Nike for Swiss sportswear company On. source
- UBS expects first-quarter earnings for financial year 2027 to miss consensus by $0.05 per share. source
- UBS's implied second-quarter guidance for Nike is $0.31 to $0.43 per share versus consensus of $0.53. source
- A source said Nike chose not to renew Mbappé's deal as his contract expired, deciding to put its endorsement money elsewhere. source
- Nike's stock has shed nearly half its value in a year. source
- UBS cut its price target for Nike by 13% to $42. source
- Nike Inc (NYSE:NKE) stock is 0.4% lower to trade at $36.30 this morning. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | contingent | — | Kylian Mbappé is leaving Nike for Swiss sportswear company On. |
| net_income | negative | contingent | — | UBS expects first-quarter earnings for financial year 2027 to miss consensus by $0.05 per share. |
| net_income | negative | contingent | — | UBS's implied second-quarter guidance for Nike is $0.31 to $0.43 per share versus consensus of $0.53. |