Nike Stock Slides on Weak Fiscal 2027 Outlook

Nike's share price plummeted 8.5% to $32.15 premarket after the sportswear company revealed its fiscal 2027 revenue decline would be higher than expected.

The company forecast a high-single-digit decline in revenue for fiscal 2027, following first-quarter sales of $11.21 billion that missed Wall Street's estimate of $11.32 billion.

Nike's Greater China sales weakened significantly, dropping 26% on a currency-neutral basis, contributing to the disappointing results.

The company's Pace restructuring program is expected to deliver approximately $2.5 billion in cumulative savings through fiscal 2031, with about $1 billion in related pre-tax charges and employee notifications beginning in 2027.