Nike Reports Q1 2027 Earnings with Revenue Decline and Strategic Adjustments
Nike (NKE) reported first-quarter fiscal year 2027 earnings, showing revenue of $11.2 billion—a currency-neutral decline of 5%—primarily due to challenges in Greater China and the EMEA region. The company attributed this downturn to deliberate supply reductions across key markets as part of its strategic reset. Despite these headwinds, Nike's Performance portfolio saw high single-digit growth driven by Running, Global Football, Tennis, and Golf. Nike provided adjusted earnings per share (EPS) guidance for fiscal 2027 between $1.15 to $1.35, excluding restructuring charges from the Pace program. The company expects a high-single-digit revenue decline in FY2027 due to ongoing supply adjustments. North America saw modest growth at 2%, while digital and store sales under its direct-to-consumer model declined by 9% currency neutral. The Jordan Brand and Dunk franchise both experienced significant declines, with the latter contributing a $200 million headwind in Sportswear revenue. Nike also highlighted progress from the Pace program, which is expected to save approximately $2.5 billion cumulatively through fiscal 2031.
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Topics: brand_performance gross_margin guidance revenue