Live Feeds
● LIVE Updated 1h ago · 9 sources tracked

NKE Stock Slumps About 9% After-Hours On A Soft Full-Year Forecast: CEO Says The Fix Will Take Time

Nike shares slumped roughly 9% in after-hours trading on Thursday following a disappointing fiscal 2027 outlook and a newly announced efficiency program that includes job cuts and corporate restructuring. CEO Elliott Hill cautioned that the company turnaround will take time, specifically addressing ongoing pressures within the Nike Sportswear, Jordan Brand, and Greater China segments. For the fiscal first quarter, Nike reported revenue of $11.2 billion, which missed consensus estimates and marked a 4% decline, alongside earnings of $0.48 per share that topped analyst expectations.

🎙️

Listen to Live Briefing

Real-time synthesized voice briefing · Live Feeds Desk

⏱ ~3 min
Speed:
RSS Source map (9)
⚡ Key Developments & Real-Time Context
Text size:
  • ✓ Nike stock slumped about 9% in after-hours trading on Thursday following the earnings report and soft forecast.
  • ✓ CEO Elliott Hill stated that the fix for the business will take time.
  • ✓ Nike earned $0.48 a share in the fiscal first quarter on revenue of $11.2 billion.
  • ✓ Fiscal first-quarter revenue fell 4% and missed the consensus estimate of roughly $11.3 billion, though earnings beat the $0.43 expected by analysts.
🛡️ Source Corroboration: 9 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

Nike issued a soft full-year forecast for fiscal 2027 alongside a sweeping restructuring plan that includes job cuts.

Live updates

  1. Nike Stock Slumps 9% on Soft 2027 Forecast and Restructuring

    Nike shares slumped roughly 9% in after-hours trading on Thursday following a disappointing fiscal 2027 outlook and a newly announced efficiency program that includes job cuts and corporate restructuring. CEO Elliott Hill cautioned that the company turnaround will take time, specifically addressing ongoing pressures within the Nike Sportswear, Jordan Brand, and Greater China segments. For the fiscal first quarter, Nike reported revenue of $11.2 billion, which missed consensus estimates and marked a 4% decline, alongside earnings of $0.48 per share that topped analyst expectations.

    Why it matters

    The sneaker giant is struggling to regain momentum and reverse declining sales amid fierce competition and macroeconomic headwinds, particularly in key overseas markets like China. While the company posted a profit beat and gross margin improvements for the opening quarter of fiscal 2027, weak forward guidance rattled investors who had hoped for a swifter recovery. Management responded to the bleak outlook by launching a sweeping cost-reduction initiative featuring layoffs.

    What is confirmed

    • Nike stock slumped about 9% in after-hours trading on Thursday following the earnings report and soft forecast.
    • CEO Elliott Hill stated that the fix for the business will take time.
    • Nike earned $0.48 a share in the fiscal first quarter on revenue of $11.2 billion.
    • Fiscal first-quarter revenue fell 4% and missed the consensus estimate of roughly $11.3 billion, though earnings beat the $0.43 expected by analysts.
    • Nike announced a new efficiency program to slash costs, which includes job cuts and sweeping restructuring.

    Still unconfirmed

    • Nike shares dipped to their lowest level in 13 years following the announcement.

    What to watch next

    • Execution and timeline of the announced efficiency program and job cuts
    • Performance metrics in the Greater China, Jordan Brand, and Nike Sportswear segments
    • Next quarter revenue results against the projected high-single-digit percentage decline for fiscal 2027
    Sources used for this update (12)
    1. OregonLive.com — Nike announces new restructuring, layoffs. Stock dips to lowest level in 13 years
    2. Fox Business — Nike plans job cuts under sweeping restructuring plan
    3. Yahoo Finance — Nike trims outlook on bleak Q1, launches efficiency program to slash costs
    4. Yahoo Finance — NKE Stock Slumps About 9% After-Hours On A Soft Full-Year Forecast: CEO Says The Fix Will Take Time
    5. CNBC — Nike shares plummet 10% after weak revenue outlook and layoff plans underway
    6. www.cnbc.com — Nike (NKE) Q1 2027 earnings - CNBC
    7. www.cnn.com — HOG Stock Quote Price and Forecast
    8. finance.yahoo.com — NKE Stock Slumps About 9% After-Hours On A Soft Full-Year ...
    9. www.gate.com — Nike Stocks Slump 9% After-Hours on Soft Fiscal 2027 Forecast ...
    10. www.gate.com — Nike Stock Slumps 9% After-Hours as CEO Issues Soft FY2027 ...
    11. finance.yahoo.com — Nike Stock Falls 9% as Soft Revenue Outlook and Restructuring ...
    12. www.investingcube.com — Nike Stock Sinks 9% as Weak 2027 Outlook Puts Turnaround ...
    confidence 95%
📊

Community Sentiment: How do you assess this situation?

Voice your perspective · Real-time aggregated sentiment from the Live Feeds community