Shares plunged to $32.80 in after-hours trading, the lowest level since September 2013, and are now about 80% below the record peak. Performance was dragged down by a 22% collapse in Greater China revenue and a 13% drop in digital sales, while the Jordan brand saw revenue growth decline by mid-teens. CEO Elliott Hill attributed the struggle to a 'lack of energy in the lifestyle space,' though he noted the release of the Caitlin 1 as the largest signature shoe launch in company history.
Tuesday, October 20, 2026
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Nike Revenue Slide and Job Cuts Send Stock to 13 Year Low
Earnings19 days ago
The footwear company’s adjusted earnings per share guide for fiscal 2027 fell to between $1.15 and $1.35, trailing the $1.65 consensus estimate. Nike will implement additional job cuts as part of an operating model transformation called 'Pace' to stabilize a turnaround after first-quarter revenue of $11.21B declined 4% year-over-year. Management warned that sales for fiscal 2027 will decrease by high single digits, falling short of the roughly 2.3% decline forecast by Wall Street.
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