Nike missed Wall Street's revenue expectations in calendar Q3 2026, with sales falling 4.3% year on year to $11.21 billion against analyst estimates of $11.33 billion, while non-GAAP profit of $0.48 per share beat consensus by 10.5%. Management attributed the decline to deliberate reductions in Sportswear and Jordan Brand volumes, ongoing inventory clean-up in Greater China, and underperformance in certain lifestyle categories, with CEO Elliott Hill saying results are below both expectations and potential. Sportswear cuts included a nearly 50% reduction in Dunk sneaker supply, a $200 million headwind this quarter, while the Jordan Brand is restoring a scarcity model for Jordan Retro products. Running, Football, Basketball, Tennis, and Golf all delivered double-digit growth under the Sport Offense strategy. CFO David Denton said the strategic resets will pressure reported revenues for the remainder of this year and into next year, with cost savings from the Pace program, targeting $2.5 billion, to be partly reinvested in product innovation and market-specific growth.
Nike IncNike Q3 revenue fell 4.3% to $11.21B, missing estimates, with management flagging continued revenue pressure from strategic resets.
