Nike stock fell as much as 6% in after-hours trading Thursday after the company reported fiscal first quarter revenue of $11.21 billion, below consensus estimates of $11.33 billion. Earnings per share came in at $0.48, down from $0.49 a year earlier, while gross margin expanded 60 basis points to 42.8%. The company said revenues are expected to decline in the high single digits in fiscal 2027. The results come nearly two years after Elliott Hill took the helm as CEO, and mark the first earnings release under new CFO Dave Denton. CFRA analyst Zach Warring told Yahoo Finance, "This is a quarter you'd expect from a new CEO three or four quarters in, but not two years in," adding that valuations and expectations have been reset.
Nike IncQ1 revenue missed estimates and guidance calls for high-single-digit revenue decline in fiscal 2027
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