Nike Q3 Sales Beat Estimates at $11.3 Billion

Nike Inc. reported third-quarter fiscal 2026 results on March 31 that exceeded Wall Street expectations for revenue, even as sales in China continued to decline and the company's Converse brand posted sharp losses. The Beaverton, Oregon-based sportswear giant announced flat net sales of $11.3 billion for the quarter ended February 28, surpassing analysts' average forecast of $11.2 billion. Earnings per share came in at 35 cents, beating estimates of 28 cents, though net income fell 35 percent to $520 million from $794 million a year earlier.

The results reflect ongoing efforts under CEO Elliott Hill, who took the helm in October 2024 to address years of heavy discounting, excess inventory and uneven demand in key markets. Hill, a longtime Nike executive, emphasized progress in a statement, saying the quarter involved "meaningful actions to improve the health and quality of our business." He added, "The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum. The work is not finished, but the direction is clear, our teams are moving with focus and urgency, and our foundation is getting even stronger to build the future of...