Nike Reports 4% Revenue Decline in Q1 Fiscal 2027

Nike's first quarter fiscal 2027 revenue declined by 4% to $11.2 billion, as the company faced significant pressure from Nike Sportswear, Jordan Brand, and Greater China.

The Jordan Brand represented 13% of Nike's global business in Q1, with revenue falling by mid-teens, primarily due to oversupplying iconic retro products.

Nike is implementing strategic initiatives including PACE, aimed at improving operational efficiency and accelerating its sport offense, with expected savings of $2.5 billion.

The company's future guidance for fiscal 2027 includes a revenue decline in the high single-digit range due to strategic adjustments in key segments, with EBIT projected to decline more than revenue, reflecting gross margin pressure and disciplined expense management.