The road to Nike's turnaround looks bumpier after its latest quarterly report.
Nike Inc (NYSE:NKE, XETRA:NKE) shares fell more than 14% on Wednesday as the athletic apparel and footwear maker reported unchanged quarterly revenue from a year ago and signalled caution for the months ahead. Nike's guidance for the fourth quarter points to revenue declining by 2% to 4%, while Wall Street analysts had been expecting 2% growth.
NKE's Q3 results beat estimates with flat revenues and lower EPS, while tariff-driven costs squeeze margins and pressure shares despite wholesale growth.
Stock futures are rising this morning after major indexes surged yesterday on hopes that the Iran war could end soon; stocks are coming off their worst quarter in four years amid concerns about the impact of the war and uncertainty about AI; Nike shares are plunging after the athletic apparel giant issued a weak sales forecast; Iran has threatened to attack over a dozen major American companies if the U.S. continues to assassinate Iranian officials; and investors are keeping close tabs on economic data ahead of the release of the jobs report later this week. Here's what you need to know today.
Nike, Inc. is upgraded to Buy as the stock trades below intrinsic value, offering a solid margin of safety. Despite near-term macro and operational headwinds, NKE's fundamentals remain strong and its balance sheet robust. Turnaround efforts are progressing, but management emphasizes recovery will take time and is dependent on both internal execution and external factors.
Nike (NYSE:NKE) shares are down 11% in early Wednesday trading, reacting to a quarterly earnings report that beat estimates on the surface but delivered a forward outlook that rattled investors.
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.