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NIKE, Inc. Reports Fiscal 2027 First Quarter Results

NKE
  • NIKE reported first-quarter fiscal 2027 revenues of $11.2 billion, a 4 percent decline on a reported basis & a 5 percent decline on a currency-neutral basis.
  • The company announced "Pace," an operating model transformation designed to scale the success of its Sport Offense while addressing challenges in NIKE Sportswear, Jordan Brand, & Greater China.
  • Gross margin expanded 60 basis points to 42.8 percent, driven by lower warehousing & logistics costs.
  • Selling & administrative expenses decreased 3 percent to $3.9 billion, while demand creation expense rose 5 percent to $1.3 billion.
  • Diluted earnings per share were $0.48, with net income falling 2 percent to $0.7 billion.
  • NIKE Brand revenues declined 4 percent to $11.0 billion, impacted by significant drops in Greater China & EMEA, partially offset by growth in North America.
  • Converse revenues fell 28 percent to $263 million across all territories.
  • NIKE Direct revenues dropped 8 percent to $4.1 billion, primarily due to decreases in digital sales & owned stores.
  • Inventories decreased 3 percent to $7.8 billion, reflecting shifts in product mix.
  • The company returned approximately $610 million to shareholders via dividends, representing a 3 percent increase from the prior year.
  • Pace is expected to generate $2.5 billion in cumulative savings by fiscal 2031, incurring roughly $1.0 billion in pre-tax charges & $0.3 billion in severance costs.
  • NIKE forecasts fiscal 2027 revenues to decline in the high-single digits, with adjusted diluted earnings per share projected between $1.15 & $1.35.
  • Management will host a conference call on October 1, 2026, to review the fiscal first-quarter results.