Nike is trading at $33.11, down 5.80%, after fiscal first-quarter revenue fell 4% to $11.21 billion, missing estimates.
- Greater China remained a major drag.
- Reuters reported Nike forecast a high-single-digit revenue decline for fiscal 2027; its earnings beat did not offset weak sales and the cautious outlook.
- Nike announced an operating-model overhaul, with job cuts beginning in 2027.