Nike reports revenue decline and announces future job cuts

Nike reported quarterly revenue of $11.2 billion on October 1, 2026, down 4% from the same period last year. Net income also fell, from $727 million to $712 million. The company said sales in Greater China dropped, though North America grew. Nike expects revenue to fall by around 8-9% for the full year. The company has already cut more than 2,100 jobs in 2026 and will make further cuts starting in 2027. It is also reorganising its global structure, reducing four divisions to three, and plans to open a new campus in India. Nike's stock fell about 9-10% in early trading and has lost nearly 45% of its value since the start of 2026, reaching a five-year low.