Stocks

Nike Stock Plummets on Soft Forecast and Struggling Businesses

Guavy AI Editorial Team Published October 2, 2026

Instruments

NKE

Nike Inc. (NKE) shares plummeted about 9% after hours on Thursday following a disappointing full-year forecast and soft quarterly results.

The company's CEO, Elliott Hill, said that the fix for Nike Sportswear, Jordan Brand, and Greater China businesses 'will take time' as they struggle to regain traction.

Nike reported a 4% decline in revenue for the fiscal first quarter, coming in short of a roughly $11.3 billion consensus, at $11.2 billion. Earnings per share (EPS) were ahead of expectations at $0.48, but adjusted EPS guidance for fiscal 2027 fell short of analyst estimates.

The company's CFO, Dave Denton, stated that operating profit would fall by a greater percentage than revenue in fiscal 2027 and that supply cuts would pressure revenue for the rest of fiscal 2027 and into fiscal 2028.

Nike Stock Plummets on Soft Forecast and Struggling Businesses

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