US EditionNike Shares Slump as China Struggles Continue
Quarterly profits fell 32% to $792 million as a 17% revenue drop in Greater China and $1.5 billion in U.S. tariffs pressured Nike's global results.
- On Thursday, Nike reported a drop in quarterly profits that sent shares sharply lower, covering its fiscal 2026 second quarter.
- Executives pointed to a 17 percent decline in Greater China revenues and higher U.S. tariffs as key challenges, CFO Matthew Friend noted the company’s need for further overhaul.
- Revenues showed a one percent rise to $12.4 billion Thursday, with Chief Financial Officer Matthew Friend noting North America and the running franchise as bright spots while China and inventory require more action.
- With major 2026 events approaching, Hill said `We will return Nike to a beloved, premium and innovative brand in China` while planning strategic positioning efforts.
- Analysts warned Nike must replicate running success across other sports and address cultural disconnect, while Elliott Hill pledged `We will return Nike to a beloved, premium and innovative brand in China`.
35 Articles
35 Articles
Nike published its profits and revenues for the second fiscal quarter of 2026, achieving 12,430 million dollars (mdd) compared to 12,220 mdd forecast. This is due in large part to the good results in the United States that compensated for the fall in sales in China and the tariffs that are causing the brand to suffer. However, it was not enough for Wall Street, since in off-market operations its shares fall 7.10%, to 65.63 dollars each (Mexico C…
Nike’s China conundrum deepens as turnaround stagnates - Regional Media News
By Nicholas P. Brown and Juveria Tabassum Dec 18 (Reuters) - Nike is running out of time to prove its China playbook works. The U.S. sportswear giant's sixth straight quarterly sales decline in the country - including a 20% drop in footwear - underscores how a market once seen as a growth engine has become its biggest pressure point. CEO Elliott Hill admitted on Thursday's post-earnings call that "it's clear we need to reset our approach to the …
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