Nike and Simon Property Group to Exit S&P Indices
Nike will no longer be part of the prestigious S&P 100 Index due to a prolonged decline in its stock price, which has reduced its market capitalization below the index's criteria. The company joined the S&P 100 in December 2008 but is set to leave on September 21 after an 18-year tenure. Simon Property Group, the largest mall operator in the U.S., will also exit the same index for similar reasons. Nike’s decline has been attributed to a shift toward direct-to-consumer sales initiated under former CEO John Donahoe and ongoing macroeconomic challenges faced by new CEO Elliott Hill since 2024. While Nike's Running division is showing signs of recovery, investors remain impatient due to the slow pace of turnaround efforts across other segments. Meanwhile, Capri Holdings will move from the S&P MidCap 400 Index to the SmallCap 600 Index on September 21 as part of routine quarterly rebalancing by index providers.
Topics: Nike restructuring S&P Index Simon Property Group stock decline