NIKE Cuts Revenue Forecast Amid Pace Cost-Saving Plan

Nike's first quarter earnings report revealed that the sportswear giant expects revenue to decline by high-single digits in fiscal 2027. The company plans to implement cost-saving measures, known as Pace, which is expected to deliver approximately $2.5 billion in cumulative savings through fiscal 2031.

The Pace program includes efforts to modernize Nike's global supply chain, the establishment of a new campus in India to fuel enterprise capabilities, and further streamlining of the organization to reduce costs.

Nike's first quarter revenue was $11.2 billion, down 4 percent on a reported basis and 5 percent on a currency-neutral basis.