Squawk on the Street Cramer's Morning Take: Nike 10/1/25
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Oct 1, 2025 Jim Cramer emphasizes that Nike's stock won’t see $90 unless it tackles its challenges in China. He highlights Elliot Hill's plan to reshape Nike’s focus on sports and restore its credibility in athletics. The team discusses the positive signs in Nike's performance, including recovery in wholesale and inventory management, while also addressing declines in China revenue. Analyst Matthew Boss boosts his price target, adding confidence to the brand's turnaround strategy. Cramer believes a healthier marketplace awaits.
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China Is The Key To Nike's Valuation
- Jim Cramer believes Nike's stock can't reach $90 until it fixes its China business.
- He thinks Elliott Hill has improved the U.S. but China remains the decisive issue for valuation.
Elliott Hill's Sports-First Turnaround
- Jim Cramer recounts Elliott Hill's pivot back to sport after Nike drifted away from its roots.
- He credits Hill with restoring Nike's sports-first identity, especially in the U.S., while China remains unresolved.
Mixed Signals From Nike's China And Strategy
- Nike's China revenue is down about 10% with EBIT falling significantly on a reported basis.
- However, the 'win now' focus shows positive signs like sequential 20% growth in prioritized areas and returning wholesale growth.