Nike warns of deeper slide in China as quarterly revenue misses

Nike reported fiscal first-quarter 2027 earnings after the close on October 1, 2026, posting adjusted earnings per share of $0.48, four cents above the $0.44 consensus, on revenue of $11.21 billion that fell $107 million short of the $11.32 billion forecast. Greater China revenue tumbled 26% as the company removed unprofitable digital distribution channels and reset bloated inventory, with management warning the regional drop would deepen over the rest of fiscal 2027. Full-year revenue is now expected to decline by high single digits, and adjusted EPS is guided to a weaker-than-hoped $1.15 to $1.35, excluding about $0.15 of restructuring costs tied to its 'Pace' turnaround plan. Shares slumped in extended trade. There were bright spots: the performance portfolio grew high single digits with double-digit gains in running, football, basketball, tennis and golf, suggesting the sports-first strategy is starting to work in home markets even as China weighs heavily.