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TLDR: Sales ticked up in North America as well as in the Europe, Middle East and Africa region and in the Asia Pacific and Latin America market. Sales slid 7% in China.
Nike Guides for Sales Declines Ahead as Turnaround Plan Hits Snags - wsj
The sneaker and athletic apparel company said turnaround efforts will continue to affect results
By Kelly Cloonan
Updated March 31, 2026 at 6:38 pm ET
Quick Summary
\- Nike logged lower fiscal third-quarter profit of $520 million and flat revenue, with sales declining 7% in China.
\- Wholesale revenue rose 5% to $6.5 billion, while direct revenue fell 4% to $4.5 billion in the quarter.
\- Chief Executive Elliott Hill said Nike’s turnaround efforts will continue to affect results this calendar year.
Nike’s NKE 3.08%increase; green up pointing triangle comeback is hitting some bumps, with the sneaker company projecting sales declines ahead, including a sharp drop in its key China market.
The company said on Tuesday that it expects sales to fall by low-single digits from now through the end of 2026, with a 2% to 4% decline in the current fiscal fourth quarter. Analysts polled by FactSet had forecast a 1.9% increase this quarter.
The guidance includes projections for a 20% sales decline in China in the current quarter, which comes after a 7% drop in that market during its most recently completed quarter.
The outlook indicates that the turnaround plan shepherded by Chief Executive Elliott Hill faces some lofty challenges in restoring Nike’s market leadership and financial performance across the globe.
The company has had some early successes thus far, with its running, wholesale and North American businesses showing some signs of progress, Hill said Tuesday. But other pockets—in particular its business in China, its Converse brand and sportswear business—are taking longer to recover.
“This is complex work, and parts of it are taking longer than I’d like,” said Hill, a Nike veteran who came out of retirement to take the helm of the company in 2024.
Shares slid 8.4%, to $48.37, in after-hours trading. Through the market close, the stock is down 17% over the past year.
In its latest quarter, Nike logged lower profit and flat sales, hurt by continued weakness in China
The company posted a fiscal third-quarter profit of $520 million, or 35 cents a share, compared with $794 million, or 54 cents a share, a year earlier. Analysts polled by FactSet forecast earnings of 29 cents a share.
Revenue was roughly flat at $11.28 billion, compared with analyst estimates of $11.23 billion.
Wholesale revenue rose 5%, to $6.5 billion, while direct revenue fell 4%, to $4.5 billion.
Sales ticked up in North America as well as in the Europe, Middle East and Africa region and in the Asia Pacific and Latin America market. Sales slid 7% in China.