First-quarter revenue of $11.21B missed targets of $11.32B and fell 4% year-over-year, driven by a 22% drop in Greater China and a 13% decline in digital sales. Earnings per share of $0.48 beat expectations of $0.43, aided by a gross margin expansion to 42.8% due to lower logistics costs. CEO Elliott Hill said the company is introducing a new operating model called Pace to strengthen Jordan Brand, Nike Sportswear, and operations in China.
Wednesday, October 21, 2026
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Nike Shares Fall to 10 Year Low After Poor FY27 Forecast
Earnings19 days ago
The sportswear giant's stock plummeted to $32.78 in after-hours trading after the company issued a cautious outlook for its sales and profits. Nike now projects that revenue for fiscal 2027 will decline by high-single digits, while adjusted earnings per share for the same period are forecast between $1.15 and $1.35, trailing analyst estimates of roughly $1.65.
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