Demand Slowdown And Competitive PressureModerating demand in running and footwear, slowing sales in the Americas, and record-high competition could weigh on revenue growth and keep consensus expectations difficult to meet.
Margin And Forecasting UncertaintyWide dispersion in peer gross and operating margins combined with rising tariff pressures makes earnings and cash flow modeling highly uncertain for the sector.
Valuation RiskValuation sits near long-term lows while peers face multiple compression, increasing downside risk if growth does not accelerate to justify current multiples.