The ratings agency changed the Eager Beavertons’ outlook from stable to negative, as Nike’s turnaround is taking longer than expected and earnings are forecast to decline through FY 2027 and into FY 2028. Moody’s affirmed Nike’s A2 senior unsecured notes rating and A2 senior unsecured shelf rating. While it’s making progress, including estimated mid-single-digit growth in its Performance segment, its Sportswear business remains challenged by an oversupplied marketplace and insufficient differentiation and will require a major reset. In Q1, Nike Sportswear accounted for about 50% of its business, and the Jordan Brand had a 13% share. Greater China remains a ... Log in to view full article.