Nike slips after Q1 sales misses expectations

NIKE

01/10/2026 21:30

** Sportswear giant Nike's NKE.N shares fall 4.2% to $33.69 in extended trading
** NKE misses Wall Street estimates for Q1 sales as it grapples with weak demand in China and heightened competition
** "We have more work to do in NIKE Sportswear, Jordan Brand and Greater China, and we're taking deliberate actions to strengthen those businesses the right way for the long-term" - CEO Elliott Hill 
** NKE expects fiscal 2027 revenue to decline high-single digits, compared with Wall Street expectations of a 2% decline, per LSEG data 
** It also plans to cut jobs as it streamlines the firm to reduce costs 
** 13 of 44 brokerages rate the stock "buy" or higher, 25 "hold" and 6 "sell"; median PT $44 - data compiled by LSEG
** As of last close, NKE stock down 44.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))