Nike Q1 net income falls to $0.7 billion; revenue drops 5% to $11.2 billion year over year

• Nike posted first-quarter revenue of USD 11.2 billion, down 4% year over year.
• Gross margin widened 0.6 percentage points to 42.8%, while selling and administrative expense slipped to USD 3.9 billion.
• Net income eased to USD 0.7 billion, while diluted earnings per share was USD 0.48.
• Converse revenue fell 28% to USD 263 million, and NIKE Direct revenue dropped 8% to USD 4.1 billion.
• Management launched “Pace,” targeting about USD 2.5 billion in cumulative savings through FY31; FY27 revenue is seen declining high-single digits.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Nike Inc. published the original content used to generate this news brief on October 01, 2026, and is solely responsible for the information contained therein.