Nike shares swing after 4% revenue drop and 2027 layoff plans
The gist
Nike revenue fell 4% to $11.21 billion as Greater China sales dropped 26%.
Analysts split on the turnaround ahead of a late-November investor day.
How it unfolded
- Sep 2026Nike was removed from the S&P 100 index earlier in September.
- Oct 1, 2026Nike reported fiscal Q1 2027 results: revenue fell 4% to $11.21 billion, Greater China sales dropped 26%, and management guided to a high-single-digit revenue decline for fiscal 2027.
- Oct 2, 2026Shares fell 10% after the revenue decline and plans to lay off staff in 2027; net income was $712 million, down 2%.
Key terms
- NYSE
- An American stock exchange headquartered in New York City, owned by Intercontinental Exchange.
- S&P 100 index
- A stock market index of large US blue-chip companies maintained by S&P Dow Jones Indices.
- Underweight
- Describing a fund that concentrates capital in few assets rather than spreading it to reduce risk.
Source: Wikipedia