Nike Inc. (NYSE: NKE) reported fiscal first-quarter revenue of $11.21 billion, down 4%, and earnings of $0.48 a share. Its October 1 results cover the quarter ended August 31, 2026.
Gross margin improved 60 basis points to 42.8%. Nike Direct revenue fell 8% to $4.1 billion, including a 13% digital-sales decline, leaving demand under pressure despite better margins.
The new Pace program targets $2.5 billion in cumulative savings through fiscal 2031, before approximately $1 billion in pretax charges and future reinvestment. About $300 million of those charges is expected in fiscal 2027.
Pace includes supply-chain modernization, an India campus and three geographic divisions. We previously reported on the sales pressure behind the overhaul. The earnings release does not give a new quantified headcount target.
Nike expects fiscal 2027 revenue to decline by a high-single-digit percentage. Adjusted EPS guidance is $1.15–$1.35, excluding approximately $0.15 in Pace expenses. These are forecasts, with savings dependent on execution.
