Nike Reports 4% Decline in First-Quarter Fiscal 2027 Earnings

Nike, Inc.'s first-quarter fiscal 2027 earnings were $11.2 billion, down 4% on a reported basis and 5% at constant currency.

The gross margin increased by 60 basis points to 42.8%, driven by supply chain cost management and favorable exchange rates. However, this was partially offset by dilution from discounts and channel mix.

Nike's Performance business grew at a high single-digit rate, with double-digit growth in Running, Global Football, Tennis, and Golf. Sportswear, the Jordan brand, and Greater China continued to experience significant headwinds.