The first two challenges are linked to inflation, which boosts gas prices and curbs discretionary purchases, while the last one won't fade away as long as rising interest rates prop up the strong dollar. Nike's (NYSE: NKE) stock tumbled 13% on Sept. 30 in response to its latest earnings report. The robust growth of Nike Direct, its direct-to-consumer channel that houses its e-commerce platform and brick-and-mortar stores, enabled it to recover quickly while reducing its overall dependence on third-party retailers.