Storyline
Nike revenue decline and job cuts 2026
One page that accretes the verified record as the story develops. Every fact keeps its date and its sources.
2 DAYS
22 FACTS
2 EVENTS
2 SOURCES
FIRST ENTRY OCT 01
OCT 02 · Day 2
Nike shares plummet 10% on weak revenue outlook and layoff plans
Nike carried out layoffs twice since the beginning of the year, including 775 jobs in January and 1,400 employees in April.
Citi analysts said they will remain neutral on Nike.
Nike announced a new operating model called Pace that is expected to deliver $2.5 billion in cost savings by 2031.
OCT 01 · Day 1
Nike stock sinks as revenue misses estimates, company expects job cuts
Nike said revenues are expected to decline in the high single digits in fiscal 2027.
Nike posted fiscal first quarter revenue of $11.21 billion, below consensus estimates of $11.33 billion.
Soccer icon Kylian Mbappe ended his long-term business tie-up with Nike and announced he will join On.