Key Takeaways Nike shares surged in premarket trading Friday after the shoe and athletic apparel maker beat estimates for the fourth quarter.Sales and profit fell less than expected year-over-year as new CEO Elliott Hill's turnaround plan progresses.

Historically, NKE stock has decreased 65% of the time after earnings announcements, with a median one-day drop of 6.8% and a maximum observed decline of 20%.

Despite the pre-earnings spike, NKE is down 17% in 2025 and has now fallen a grizzly 44% over the last three years to widely trail the benchmark S&P 500’s gains of more than +50% and its archrival Adidas (ADDYY - Free Report) , whose stock is up +24% during this period.