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Nike Just Reported Earnings. Here's What Investors Need to Know.

Nike shares plummeted 10% following a weak revenue outlook and a sweeping restructuring plan that includes job cuts. The athletic footwear and apparel giant reported lower first-quarter revenue and projected a sales decline for the fiscal year. Management is cutting back supply in key categories such as Jordan, sportswear, and China as part of turnaround efforts. The earnings report also dragged down stock prices across the broader sportswear sector, impacting competitors including Lululemon, On, Under Armour, and Hoka maker Deckers Outdoor.

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  • ✓ Nike shares plummeted 10% after the company released a weak revenue outlook and layoff plans.
  • ✓ Nike reported lower first-quarter revenue and projected a sales decline for the year.
  • ✓ The earnings warning impacted stock prices for Lululemon, On, Under Armour, and Deckers Outdoor.
🛡️ Source Corroboration: 11 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Nike reported its fiscal 2027 first-quarter earnings, issued a weak revenue forecast for the year, and announced upcoming layoffs.

Live updates

  1. Nike Shares Plummet 10% on Weak Revenue Outlook and Layoff Plans

    Nike shares plummeted 10% following a weak revenue outlook and a sweeping restructuring plan that includes job cuts. The athletic footwear and apparel giant reported lower first-quarter revenue and projected a sales decline for the fiscal year. Management is cutting back supply in key categories such as Jordan, sportswear, and China as part of turnaround efforts. The earnings report also dragged down stock prices across the broader sportswear sector, impacting competitors including Lululemon, On, Under Armour, and Hoka maker Deckers Outdoor.

    Why it matters

    The sportswear giant is struggling to regain growth in critical international markets like China and turn around its overarching business operations. Recent financial reports have shown persistent declines in both revenue and profits, prompting management to implement drastic cost-cutting measures. Investors are closely monitoring whether these operational shifts can stabilize the company amid broader retail sector pressures.

    What is confirmed

    • Nike shares plummeted 10% after the company released a weak revenue outlook and layoff plans.
    • Nike reported lower first-quarter revenue and projected a sales decline for the year.
    • The earnings warning impacted stock prices for Lululemon, On, Under Armour, and Deckers Outdoor.

    Still unconfirmed

    • Nike management is cutting back supply in specific categories including Jordan, sportswear, and China.
    • One analyst warned that Nike's best quarter this year may already be behind it.

    What to watch next

    • Execution timeline and scale of the planned job cuts and restructuring strategy
    • Performance of Nike sales in the Chinese market and key product categories like Jordan
    • Broader sector stock movements for competing athletic brands
    Sources used for this update (12)
    1. WSJ — Nike Projects Sales Decline This Year After Lower First-Quarter Revenue
    2. Fox Business — Nike plans job cuts under sweeping restructuring plan
    3. CNBC — Nike shares plummet 10% after weak revenue outlook and layoff plans underway
    4. Yahoo Finance — Nike warning hits stocks prices of Lululemon, On, Under Armour, and Hoka maker Deckers Outdoor
    5. The Motley Fool — Nike Just Reported Earnings. Here's What Investors Need to Know.
    6. www.cnbc.com — Nike (NKE) Q1 2027 earnings - CNBC
    7. finance.yahoo.com — Analyst warns Nike's best quarter this year may be behind it
    8. economictimes.indiatimes.com — Nike layoffs: Nike stock falls after revenue miss, NKE ...
    9. www.fool.com — Nike Just Reported Earnings. Here's What Investors Need to ...
    10. about.nike.com — NIKE, Inc. Reports Fiscal 2027 First Quarter Results —
    11. www.europesays.com — Nike Just Reported Earnings. Here's What Investors Need to ...
    12. finance.yahoo.com — Nike Just Reported Earnings. Here's What Investors Need to Know.
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