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Nike Edges Past Quarterly Revenue Estimates
Wholesale sales rose 4% and running grew for a fifth straight quarter, but China and Converse stayed weak as Nike’s profit beat was lifted by a $986 million tariff refund.
- On Tuesday, Nike reported flat fiscal 2026 revenue of $46.4 billion, with fourth-quarter sales declining 1% to $11 billion. Chief Executive Elliott Hill acknowledged the company's results are not yet meeting full potential.
- Benefiting from a $986 million tariff refund, Nike's gross margin increased 8.9% this quarter. Hill continues his 'Win Now' turnaround strategy focused on restoring wholesale relationships and improving performance product innovation.
- Regional performance remains mixed: North American sales climbed 3% to $4.8 billion, while Greater China revenue dropped 12% and Converse sales fell 32% to $244 million. These disparities reflect ongoing market challenges.
- Outgoing Chief Financial Officer Matthew Friend warned of a volatile macro environment, citing evolving tariff policies and weaker store traffic. Nike shares fell 3.07% in after-hours trading on Tuesday, closing at $39.80 per share.
- Nike will host an investor day on November 16 and 17 to unveil new business plans and refresh product strategies. Hill remains focused on consistent execution and scaling performance wins to realize the company's full potential.
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Nike Revenue Slips as Turnaround Effort Faces China Headwinds
Sportswear giant Nike reported another quarterly sales decline as it continued to face weak demand in China, falling direct-to-consumer sales, and a steep drop at its Converse brand. The Beaverton, Oregon-based company said on Wednesday that its fourth-quarter revenue fell 1 percent year over year to $11.0 billion. For the full fiscal year, revenue was roughly flat at $46.4 billion. Fourth-quarter profit rose sharply to $1.1 billion, up from $21…
·New York, United States
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Total News Sources11
Leaning Left0Leaning Right2Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 25%
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