Nike shares are down 39% in 2026, putting the stock on track for its worst annual performance since Michael Jordan’s first retirement in 1993.

A new 25% U.S. tariff on a broad range of Brazilian exports is set to impact billions of dollars in trade, deepening bilateral tensions and raising concerns about long-term economic and supply chain disruption.

China remains the footwear superpower, but other countries continue to chip away at its lead. 

In the heavily oil-dependent footwear industry, sustained elevated oil costs will show up in the supply chain, with some impacts immediate and others still weeks away. 

FDRA’s Q1 2026 survey finds sales improving, outlooks at a 5-quarter high and consumer demand holding steady, even as tariffs and rising material costs loom.

How upstart footwear brands are exploiting incumbent missteps