Nike's Restructuring Plan Aims to Save $2.5B Amid Revenue Decline

Nike Inc., the global athletic footwear and apparel giant, announced on October 1, 2026, that it would be undergoing a restructuring process to save approximately $2.5 billion by fiscal year 2031.

The company's stock plummeted by 8.5% in after-hours trading following the announcement, which also revealed a significant drop in expected annual revenue.

Nike's sales have been struggling in China, with a 26% decline in first-quarter sales in the region, where it generates approximately 15% of its annual income.