Everyone's hyped for Nike earnings tonight but the China story is getting buried 📉 Nike keeps saying North America gains will offset China weakness, but that's wishful thinking. China isn't just a cyclical downturn — it's permanent market share loss to local brands like Anta and Li-Ning. The China consumer is done paying premium prices for American brands when domestic alternatives offer 80% of the quality at 50% of the price. That playbook worked in tech, now it's happening in athletic wear. With revenue growth at just 0.9% and net income plunging -31.4% year-over-year, Nike's struggling to maintain momentum. The most recent quarter showed $12.4B in revenue with $1.03 EPS, but the trajectory from previous quarters ($11.7B revenue, $0.49 EPS) reveals inconsistent execution amid market share pressures. Watch the guidance. If they're still calling China weakness "temporary," that's code for "we have no plan to fix this." 🔥

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