Sneaker giant NIKE, Inc. (NYSE: NKE) reported a decline in earnings for the first quarter of fiscal 2026. Meanwhile, the bottom line came in above Wall Street’s expectations.
The company reported net income of $727 million or $0.49 per share for the first three months of FY26, compared to $1.05 billion or $0.70 per share in the year-ago quarter.
First-quarter revenues were $11.72 billion, compared to $11.59 billion in the prior-year quarter. Wholesale revenues were $6.8 billion, up 7% on a reported basis and up 5% on a currency-neutral basis.
Nike’s CEO Elliott Hill said, “While we’re getting wins under our belt, we still have work ahead to get all sports, geographies, and channels on a similar path as we manage a dynamic operating environment. I’m confident that we have the right focus in Win Now and that our new alignment in the Sport Offense will be the key to maximizing NIKE, Inc.’s complete portfolio over the long term.”
