Nike Just Lost Mbappé to The COMPETITION

Nike loses Mbappe to on cloud, not to Puma, not to Adidas, but to on cloud. How does Nike lose the biggest soccer star today to on cloud? And you see how Nike's shares in China quarter after quarter after quarter has dropped. Greater China revenue dropped 22% reported 26% currency neutral in the last quarter alone. And by the way, nine quarters in a row, which is a little over two years, Nike has lost their revenue in China. Nine quarters in a row. Nike lost ground to faster moving competitors like on cloud, Adidas, Hoka, and others. The fact that their wholesalers, they started becoming competitive with their wholesalers before they would sell it to old wholesalers. Now Nike got cocky and said, we don't need wholesalers anymore. We can sell it on our own. Don't worry about it. You guys are lucky. And they're like, wait a minute. What are you talking about? You're cutting us. We've been the wholesaler for you. They cut them through. And then their digital is shrinking. Nike direct fell 8%. Nike brand digital fell 13% for fiscal 2026. The Jordan brand of sportswear business has also weakened. I'm sure Michael's not too happy about that.