🔴 Nike is trading 10.1% down in pre-market after weak sales and fiscal 2027 revenue decline

Nike is trading 10.1% down at $31.64 following its October 1 earnings release, as weak sales and the fiscal 2027 outlook weighed on shares.

• First-quarter revenue was $11.21 billion, below expectations; Greater China revenue fell 26% on a currency-neutral basis.
• Nike expects fiscal 2027 revenue to decline by a high-single-digit percentage and adjusted EPS of $1.15 to $1.35. The EPS beat did not offset concerns about sales and the forecast.