Nike IncNKE
▼ NegativeDemandrelevance
Weak outlook with sales decline expected through first half of fiscal 2027, and drops in Nike Direct, digital, Greater China, and Converse revenue.
Impact on stocks 1
Consumer Discretionary
Nike IncNike shares fell more than 3% in premarket trading after the company warned sales could keep declining through the first half of fiscal 2027, overshadowing a quarterly earnings beat. Revenue came in at $11 billion, slightly ahead of the $10.85 billion analysts expected, while adjusted earnings were 20 cents a share, topping estimates of 12 cents. Total revenue fell 1% from a year earlier, with Nike Direct revenue dropping 7% to $4.1 billion and digital sales down 12%. Greater China sales fell 17% on a constant-currency basis, and Converse revenue dropped 32% to $244 million.
Nike IncWeak outlook with sales decline expected through first half of fiscal 2027, and drops in Nike Direct, digital, Greater China, and Converse revenue.