Nike stock fell in after-hours trading on Thursday, October 1, after the company’s fiscal first-quarter revenue came in below Wall Street estimates and it warned that full-year sales will shrink further. Earnings per share beat expectations, but the outlook and a new restructuring program called Pace, which includes more job cuts, took center stage.
Here’s what Nike reported, why NKE shares are moving, and what to watch as Elliott Hill’s turnaround enters another phase.
Nike Stock Price Today
Markets were closed at the time of writing (Thursday evening, October 1, US Eastern time). These figures reflect the latest completed session and after-hours trading, per Yahoo Finance:
| Metric | Value |
|---|---|
| Close, Oct 1 | $35.15 (down 0.71%) |
| After hours, 4:17 p.m. ET | $33.44 (down 4.86%) |
| Market cap | About $52.1 billion |
| Dividend yield | About 4.6% |
Before Thursday’s session, NKE’s 52-week range was $35.16 to $76.97, according to CNBC, so the stock was already sitting near the bottom of that range heading into earnings. Reuters reported the shares fell about 4% in extended trading after the release.
After-hours prices can shift significantly by the time regular trading opens on Friday.
Nike’s Latest Earnings Results
Nike reported fiscal 2027 first-quarter results for the three months ended August 31, 2026. All figures below come from Nike’s earnings release unless noted.
Revenue: $11.21 billion
- Down 4% from $11.72 billion a year earlier
- Down 5% on a currency-neutral basis (excluding exchange-rate effects)
- Analysts expected $11.32 billion, according to LSEG data cited by Reuters
Earnings per share: $0.48
- Versus $0.49 a year earlier
- Analysts expected $0.44 (Yahoo Finance consensus, per AskTraders)
Net income: $712 million
- Down 2% from $727 million
Gross margin: 42.8%
- Up 60 basis points (0.6 percentage points), mainly because of lower warehousing and logistics costs
Expenses and balance sheet
- Selling and administrative expense fell 3% to $3.9 billion
- Inventories were $7.8 billion, down 3%
- Cash and short-term investments totaled $8.4 billion
Results by region
North America: $5.13 billion, up 2%
Europe, Middle East and Africa: $3.18 billion, down 5%
Greater China: $1.18 billion, down 22% (down 26% currency-neutral)
Asia Pacific and Latin America: $1.46 billion, down 2% (flat currency-neutral)
Converse: $263 million, down 28%
Why Nike Stock Is Moving
The quarter itself was mixed: a profit beat and better margins, but softer sales. The bigger issue was the outlook.
Full-year guidance came in well below expectations. Nike now expects fiscal 2027 revenue to decline by a high-single-digit percentage, with adjusted EPS of $1.15 to $1.35. Analysts had expected fiscal 2027 EPS of about $1.65, according to Proactive Investors. Reuters noted Nike had earlier pointed to a low-to-mid-single-digit decline for the first half of the year.
More restructuring. Nike announced Pace, a new operating model program that includes further job reductions. Investing.com summarized the reaction as a revenue miss overshadowing an earnings beat.
China. Greater China revenue fell 22%, and the region’s operating profit (EBIT) dropped 34%.
Context matters too. Going into the report, Nike shares were already down roughly 43% for the year, according to Visible Alpha data cited before the release.
Nike’s Turnaround Under Elliott Hill
Hill became CEO in October 2024. His strategy is built around what Nike calls the Sport Offense: refocusing product development, marketing and teams on specific sports like running, basketball and football, rather than leaning on a few big lifestyle franchises.
Nike’s management says that approach is working in its performance business. Hill also acknowledged in the release that NIKE Sportswear, Jordan Brand and Greater China still need more work, and said Nike is taking deliberate steps to strengthen those businesses for the long term.
Outside analysts have been more critical. Reuters reported that analysts largely attribute Nike’s struggles to strategic missteps and a lack of compelling new products, which led to more promotions and discounting, alongside cautious consumer spending.
Signs of progress in this quarter, according to the release:
- North America returned to growth, led by a 9% rise in wholesale sales
- Gross margin expanded
- Operating overhead fell 6%
Nike Restructuring and Job Cuts
What Pace is: Nike describes Pace as an operating model transformation to scale the success of the Sport Offense. It builds on a cost realignment plan Nike announced in March 2026.
What’s changing:
- Modernizing Nike’s global supply chain
- Opening a new campus in India for enterprise capabilities
- Reorganizing into three geographic regions (from its current four reporting regions)
- Further streamlining the organization to reduce costs
The numbers:
- About $2.5 billion in cumulative savings expected through fiscal 2031
- About $1.0 billion in pre-tax charges through fiscal 2031, mainly employee-related costs
- About $0.3 billion of those charges expected in fiscal 2027
- This comes on top of about $0.3 billion in severance costs already recognized in fiscal 2026
Jobs: Nike’s release doesn’t give a headcount figure. Reuters reported the plan includes further role reductions, following earlier cuts this year.
Nike itself cautions that the savings and charges are estimates and could differ materially, including because of local labor laws in different countries.
Nike in China
Greater China is the weakest part of Nike’s business right now:
- Revenue: $1.18 billion, down 22% (down 26% currency-neutral)
- Wholesale sales: down 28%
- NIKE Direct sales: down 13%
- EBIT: $248 million, down 34%
For context, analysts expected roughly a 12.6% decline in China before the report, according to Visible Alpha consensus. The actual drop was considerably steeper.
Nike’s management named Greater China as one of three businesses it is actively repositioning. It hasn’t laid out a detailed timeline in the release for when it expects the region to stabilize.
Nike Direct vs Wholesale
Nike sells two main ways:
- NIKE Direct: its own stores, website and apps
- Wholesale: sales to retailers like Foot Locker, Dick’s and department stores
Under former leadership, Nike pushed hard toward direct sales and cut back many wholesale partners. Hill has worked to rebuild those relationships. This quarter’s numbers show that shift:
Wholesale: $6.8 billion, down 1%
- North America wholesale up 9%
- Greater China wholesale down 28%
NIKE Direct: $4.1 billion, down 8%
- Nike Brand Digital down 13%
- Nike-owned stores down 5%
The pattern suggests retailers are taking more Nike product in the US, while Nike’s own digital channel is shrinking. Whether that mix improves profitability over time is something investors will be watching.
Nike Dividend
Nike’s current quarterly dividend is $0.41 per share ($1.64 a year).
Most recent declaration
- Declared: August 6, 2026
- Record date: September 1, 2026
- Paid: October 1, 2026
Nike returned about $610 million to shareholders through dividends in the quarter, up 3% from a year earlier. Based on Thursday’s closing price, the yield is about 4.6%, according to Yahoo Finance. That yield is high for Nike mainly because the share price has fallen so far.
Future dividends depend on decisions by Nike’s board and on the company’s financial results.
Nike Stock Forecast and Analyst Expectations
These are analyst estimates and opinions, not predictions.
Before earnings
- Several firms cut their price targets in the days ahead of the report, including HSBC (to $40 from $48), Deutsche Bank (to $37 from $45) and RBC Capital (to $40 from $45), according to TipRanks data shown on CNN.
- The average analyst rating was “Hold,” with an average price target of about $45.63, according to StockAnalysis.
Earnings expectations vs guidance
- Fiscal 2027 EPS consensus: about $1.65 to $1.66
- Nike’s adjusted EPS guidance: $1.15 to $1.35
- Fiscal 2027 revenue consensus: about $45.34 billion, per AskTraders
That gap between Wall Street’s expectations and Nike’s guidance means analysts will likely revise their estimates and targets in the coming days. Pre-earnings price targets may not reflect the new outlook.
Key Risks for Nike Stock
- Greater China: sales and profits fell sharply this quarter, with no clear turnaround yet.
- Consumer spending: Reuters points to cautious US consumers dealing with stubborn inflation.
- Competition and product cycles: analysts have cited a shortage of compelling new products, while competitors have gained ground.
- Discounting: promotions to clear older lifestyle styles can pressure margins.
- Restructuring execution: Pace carries about $1 billion in charges, and Nike warns savings may differ from estimates.
- Converse: sales fell 28% across all territories.
- Digital weakness: Nike’s own digital sales dropped 13%.
- Currency movements: exchange rates affect reported revenue, as this quarter’s 4% reported versus 5% currency-neutral decline shows.
What Investors Should Watch Next
- Next earnings report: Nike typically reports fiscal Q2 in late December. The date hasn’t been announced yet.
- Revenue trend: whether the decline narrows or deepens from this quarter’s 4%.
- Gross margin: whether margin gains continue as Nike reduces discounting.
- Greater China: whether the 22% decline begins to ease.
- North America: whether growth holds, since it’s Nike’s largest market.
- NIKE Direct and digital: whether the 13% digital decline stabilizes.
- Wholesale growth: a sign of retailer confidence in Nike product.
- Product launches: new performance products tied to the Sport Offense.
- Pace progress: updates on savings, charges and job cuts.
- Guidance updates: any change to the high-single-digit revenue decline forecast.
The Bottom Line
Nike stock is under pressure because the company’s outlook for fiscal 2027 fell well short of analyst expectations, even though first-quarter profit beat estimates and margins improved. North America is growing again, but China, digital sales and Converse are shrinking, and Nike is launching another restructuring with more job cuts. The coming quarters will show whether Hill’s turnaround and the Pace program can return Nike to growth.
Nike Stock FAQ
What is Nike’s stock ticker?
NKE, on the New York Stock Exchange.
What is Nike stock price today?
NKE closed at $35.15 on October 1, 2026, and traded around $33.44 after hours following earnings, per Yahoo Finance. Check a live quote for the current price.
Why is Nike stock moving today?
Revenue missed estimates, and Nike guided to a high-single-digit revenue decline for fiscal 2027 with EPS guidance well below analyst expectations. It also announced new restructuring with more job cuts.
What were Nike’s latest earnings?
Revenue of $11.21 billion (down 4%), EPS of $0.48, net income of $712 million and gross margin of 42.8% for the quarter ended August 31, 2026.
When is Nike’s next earnings report?
Nike hasn’t announced the date. Its fiscal second quarter ends in late November, and results typically come in late December.
Does Nike pay a dividend?
Yes. The current quarterly dividend is $0.41 per share, most recently paid on October 1, 2026.
What is happening with Nike’s turnaround?
CEO Elliott Hill is refocusing Nike on specific sports, rebuilding wholesale relationships and cutting costs. The new Pace program targets about $2.5 billion in savings through fiscal 2031.
Why is Nike struggling in China?
Greater China revenue fell 22% this quarter, with declines in both wholesale and direct sales. Nike’s management named China as a business it’s actively repositioning.
What are analysts saying about Nike stock?
Before earnings, the average rating was “Hold,” and several firms had cut price targets. Analysts are likely to update estimates after the weaker-than-expected guidance.
Is Nike stock a good investment?
That depends on your goals and risk tolerance. Factors investors often weigh include the stock’s sharp decline and valuation, falling revenue, improving margins, the progress of the turnaround, the dividend and its 4.6% yield, and risks in China and consumer demand.
Source
- Nike Q1 fiscal 2027 earnings release (SEC filing): all reported results, regional and channel figures, Pace details, guidance, executive quotes.
- Reuters via Investing.com: revenue estimate, after-hours move, job cuts, analyst views.
- Investing.com: market reaction summary.
- Yahoo Finance: closing and after-hours prices, market cap, yield.
- CNBC quote page: 52-week range.
- Proactive Investors: fiscal 2027 EPS estimate.
- AskTraders: EPS consensus and fiscal 2027 revenue consensus.
- Seeking Alpha (Visible Alpha preview): pre-earnings China estimate and year-to-date decline.
- CNN Markets: pre-earnings price target changes.
- StockAnalysis: average rating and price target.
- Nike dividend announcement (Nasdaq): dividend amount and dates.
