The earnings call presents a mixed view with strong growth in specific segments like running and North America, but significant challenges remain in Greater China and digital channels. Despite some positive developments, overall performance is hindered by external pressures such as tariffs and internal restructuring efforts.

Company Guidance

During the first quarter of fiscal 2026, NIKE, Inc. reported mixed financial results, with revenues up 1% on a reported basis but down 1% in currency-neutral terms. The company's gross margins declined by 320 basis points to 42.2%, affected by increased wholesale discounts and product costs. NIKE Direct saw a 5% decline, including a 12% drop in digital sales, while wholesale revenues increased by 5%. Regionally, North America emerged as a bright spot with a 4% revenue growth, driven by an 11% increase in wholesale sales, despite a 3% decline in NIKE Direct. In Greater China, revenues fell by 10%, impacted by a 9% decline in wholesale and a 27% drop in digital sales. The company's efforts to reposition its digital business and manage inventory levels were noted, with inventory decreasing by 2% year-over-year. NIKE's strategic focus remains on its "win-now" actions and sport offense strategy, aiming to align its brands and drive deeper consumer connections, while acknowledging the headwinds posed by tariffs and challenges in the Chinese market.

Running Business Growth

NIKE running business grew over 20% in the quarter, demonstrating the success of the new sport offense strategy.

North America Revenue Increase

North America revenue grew 4%, with wholesale growing 11%, showing positive momentum in the region.

Spring Order Book Growth

Spring order book is up year over year, indicating trust and positive reception from wholesale partners.

Inventory Management Progress

Inventory decreased 2% versus the prior year, reflecting progress towards a healthier marketplace.

Nike (NKE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NKE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 18, 2025	2026 (Q2)	0.37 / -	0.78	―	―	―
Sep 30, 2025	2026 (Q1)	0.27 / 0.49	0.7	-30.00% (-0.21)	―
Jun 26, 2025	2025 (Q4)	0.13 / 0.14	1.01	-86.14% (-0.87)	―
Mar 20, 2025	2025 (Q3)	0.30 / 0.54	0.98	-44.90% (-0.44)	―
Dec 19, 2024	2025 (Q2)	0.67 / 0.78	1.03	-24.27% (-0.25)	―
Oct 01, 2024	2025 (Q1)	0.52 / 0.70	0.94	-25.53% (-0.24)	―
Jun 27, 2024	2024 (Q4)	0.84 / 1.01	0.66	53.03% (+0.35)	―
Mar 21, 2024	2024 (Q3)	0.76 / 0.98	0.79	24.05% (+0.19)	―
Dec 21, 2023	2024 (Q2)	0.84 / 1.03	0.85	21.18% (+0.18)	―
Sep 28, 2023	2024 (Q1)	0.76 / 0.94	0.93	1.08% (<+0.01)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NKE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 30, 2025	$69.73	$74.20	+6.41%
Jun 26, 2025	$62.22	$71.67	+15.19%
Mar 20, 2025	$71.02	$67.14	-5.46%
Dec 19, 2024	$75.81	$75.65	-0.21%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.