Nike forecasts steep revenue decline as restructuring deepens

Nike reported a 4% drop in fiscal first-quarter revenue and forecast a high-single-digit decline for fiscal 2027, while Chief Executive Elliott Hill outlined restructuring and product changes aimed at reviving growth. The company said revenue was about $11.2 billion in the quarter, which ended August 31, and sales in Greater China fell 26% year over year. Nike also said it would reorganize its business into three geographic regions and pursue savings through fiscal 2031. The revenue result was below the average analyst estimate of $11.32 billion cited in the company’s report. Nike’s fiscal 2027 forecast is steeper than the roughly 2% decline analysts expected on average, according to estimates cited in the same reporting. Nike’s figures and outlook are company-reported; the supplied information does not include the underlying filing. Nike said the restructuring is expected to generate about $2.5 billion in savings through fiscal 2031, with most of the savings expected in fiscal 2029 and 2030. The new regional structure will comprise the Americas; Asia Pacific and Greater China; and Europe, the Middle East and Africa.