People who grew up in the 1990s might remember Nike (NKE +1.74%) as one of the coolest brands on Earth, with trend-setting designs in athletic footwear and apparel. This is the company that created Air Jordans and made athletic shoes into the new casual wear for everyday life.
With its iconic swoosh logo, this company didn't just make sports gear -- it shaped the culture and inspired human performance. Wearing Nike was like social media for young people before social media existed.
But in the past few years, NKE has fallen behind the best apparel stocks. The company is facing tighter competition for what's now called "athleisure" and new entrants into the market for casual shoes. Nike's share price is down 68% in the past five years and has fallen about 75% from its all-time high in November 2021.
Can anything turn NKE around? A recent survey from Piper Sandler shows one surprising sign of hope: Young American consumers still love the Nike brand.
Let's see if this company's popularity with U.S. teenagers could be enough to turn the stock around.
Piper Sandler survey: Nike is No. 1 with teens
The most recent Piper Sandler Taking Stock With Teens® survey was published in October 2025, based on the opinions of nearly 11,000 U.S. teenagers about their favorite retail brands and how they like to shop. Nike ranked No. 1 among teens for top clothing brand and top footwear brand.
Image source: Getty Images.
According to the survey, 26% of teens said Nike was their favorite clothing brand, compared to 12% for Hollister, the second-ranked brand. And 46% of teens said Nike was their favorite footwear brand, which far outpaced Adidas (14%) and New Balance (8%).
Nike even ranked favorably among teens for online shopping. Although e-commerce giant Amazon ranked No. 1 for teens' favorite shopping website with 54% of teens, Nike tied for a distant second with Shein (5% each).
This company has a powerful brand that has staying power with today's young generation of teenagers. But is that enough to save NKE stock?
China might matter more than U.S. teenagers
Here's the problem for NKE shareholders: No matter how popular the company is with U.S. teenagers, it is struggling to keep up with changing consumer preferences in one of its most important markets: China.
NYSE: NKE
Key Data Points
In its latest quarterly earnings report on March 31, Nike reported a disappointing 7% year-over-year decline in revenue from the Greater China market. And executives forecast more bad news: They expect a revenue decline of 2% to 4% in the current quarter, with a 20% drop in sales in China.
Even if the young generation of American consumers stays loyal to Nike, this stock will struggle to recover if the company can't boost sales in crucial international markets like China. NKE investors should prepare for more share price declines. Unless investors see some good news soon, I wouldn't rate NKE as a buy.
