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Nike third-quarter sales beat estimates as turnaround efforts gain traction
Tighter discounting and new product launches helped steady demand as wholesale sales rose 5% and China revenue fell 7%, the company said.
- On Tuesday, Nike beat Wall Street expectations for third-quarter revenue, reporting $11.28 billion as tighter control on discounting and fresh product launches helped steady demand.
- CEO Elliott Hill, appointed in October 2024, is resetting the business after years of excess inventory and heavy discounting across key markets. "This quarter, we took meaningful actions to improve the health and quality of our business," Hill said.
- The company posted earnings of 35 cents per share, surpassing analyst estimates of 31 cents, while Nike Brand revenues totaled $11 billion with Wholesale revenues rising 5% to $6.5 billion.
- Regionally, North America sales rose 3% and Europe, Middle East and Africa grew 2%, while Greater China fell 7%; inventories declined 1% to $7.5 billion at quarter's end.
- Despite the revenue beat, Nike shares fell 3.28% in after-hours trading as the company grapples with weakening demand in Greater China and competition from local rivals Anta and Ning.
21 Articles
21 Articles
Nike CEO says its comeback plan is taking longer than expected, sending shares tumbling more than 8%
Nike's shares dropped after its third-quarter earnings.VIEW press/Corbis via Getty ImagesNike's Q3 2026 revenue stayed flat at $11.3 billion, and shares dropped over 8% after market close.Running led Nike's growth, highlighting the focus on performance wear.Nike's digital sales fell due to promotions, while sportswear faced revenue challenges.Nike's "Win Now" turnaround plan isn't seeing immediate results.The sports giant announced its third-qua…
The U.S. sportswear and equipment group Nike did better than expected in the third quarter of its shifted fiscal year 2026, despite a decline in its net profit over a year.
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