Nike Stock Plummets on Disappointing Forecast

Nike Inc.'s (NKE) stock plummeted about 9% after hours on Thursday following a disappointing full-year forecast from CEO Elliott Hill.

Hill said that the fix in Nike Sportswear, Jordan Brand, and Greater China businesses 'will take time' as the company faces a high-single-digit decline in revenue for fiscal 2027 and adjusted earnings of $1.15 to $1.35 a share, excluding restructuring costs.

This outlook falls short of analysts' expectations, who were looking for closer to $1.67. The CFO, Dave Denton, attributed the lower forecast to supply cuts that will pressure revenue in the rest of fiscal 2027 and into fiscal 2028.