Nike is attempting to turn things around, but it could be a long road to success.
Nike (NYSE: NKE) stock is down more than 9% in pre-market trading on Wednesday, April 1, hovering around the lowest levels in more than a decade following a mixed earnings report.
Shares of Nike fell sharply in after-hours trading after the company warned of a decline in current-quarter revenue, underscoring persistent challenges in its key China market and an uneven turnaround trajectory. The sneaker maker said it expects revenue to fall between 2% and 4% in the ongoing quarter, driven largely by a projected 20% drop in China sales.
Nike'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, Inc. (NKE) Q3 2026 Earnings Call Transcript
Nike's stock is tumbling on signs of stumbling blocks in the company's turnaround.
Buying in ahead of the new quarter does display some innate hopefulness that the Iran crisis does get resolved sooner than later.
The headline numbers for Nike (NKE) give insight into how the company performed in the quarter ended February 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Nike (NKE) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.54 per share a year ago.
Nike reported quarterly results that were a bit better than Wall Street's expectations, but investors still didn't appear convinced of the sneaker giant's turnaround efforts.
Nike will report fiscal third quarter earnings after the bell on Tuesday. Analysts are expecting earnings per share of 28 cents on revenue of $11.24 billion, according to LSEG.
Nike Inc (NYSE:NKE) stock is up 2.1% to trade at $52.32, enjoying a broader market boost ahead of the retail giant's fiscal third-quarter earnings report, due out after the close later today.