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NIKE (NYSE:NKE) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Nike said strategic changes in Sportswear, Jordan and China will pressure sales near term as it targets $2.5 billion in savings.
- Nike, Inc. reported fiscal first-quarter revenue of $11.2 billion on Thursday, a 4% decline on a reported basis, with net income of $712 million or $0.48 per share.
- Strategic resets in Greater China, the Jordan Brand, and Sportswear caused the revenue decline as management prioritizes long-term business health over near-term performance.
- North America revenue grew 2%, led by strong performance in running, global football, and basketball, offsetting weakness in international markets including Greater China.
- CFO Dave Denton warned that strategic adjustments will dampen performance through fiscal 2027, with full-year adjusted earnings projected between $1.15 and $1.35 per share.
- Nike is executing the PACE program to realize approximately $2.5 billion in cumulative savings through fiscal 2031, aiming to accelerate its sport-led operational model.
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Full Transcript: Nike Q1 2027 Earnings Call - Nike (NYSE:NKE)
On Thursday, Nike (NYSE:NKE) discussed first-quarter financial results during its earnings call. The full transcript is provided below. This transcript is brought to you by Benzinga APIs. For real-time access to our
·Detroit, United States
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NIKE (NYSE:NKE) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
NIKE (NYSE:NKE - Get Free Report) announced its quarterly earnings results on Thursday. The footwear maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. NIKE had a return on equity of 16.54% and a net margin of 6.70%.
·Sioux Falls, United States
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Leaning Left3Leaning Right1Center2Last UpdatedBias Distribution50% Left
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L 50%
C 33%
R 17%
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