Nike misses revenue consensus, shares down 4% to new 12-year low

Nike shares dip to 12-year lows as share price breaks below $33.
Management expects revenue to decline between 7% and 9% this fiscal year.
Greater China revenue falls 22%, Converse revenue down 28%.
Monthly chart points to $23 as next area of support for NKE.

Clay Webster FXStreet

Well, folks, the brand known to "just do it" just did it again. That's right. Nike (NKE) shat the bed in fiscal Q1 2027.

The footwear and athletic company posted revenue of $11.21 billion for the quarter ending in August, missing the consensus by $110 million and showing that demand is still faltering after several miserable years. Revenue fell over 4% YoY.

Nike beat the earnings estimate by 4 cents, reporting $0.48 in GAAP earnings per share (EPS). But that did little to impress the market as management's outlook called for a revenue decline in the full fiscal year of between 7% and 9%. The executive team now projects full-year revenue of $42.7 billion compared with the prior consensus of $45.3 billion.

"We have more work to do in Nike Sportswear, Jordan Brand and Greater China, and we're taking deliberate actions to strengthen those businesses the right way for the long term," said CEO Elliot Hill in a statement.

Hill mentions China, because that was the worst of it in Q1. The Greater China region saw revenue decline by 22%, while North America revenue stemmed the tide by gaining 2%.

However, Converse revenue also fell a surprising 28%, and the Nike Brand segment saw a 4% revenue decline.

Nike Direct revenue declined 8%, and the full Digital segment saw a decline of 13% YoY.

Nike management expects a $1.15 to $1.35 in diluted earnings per share for fiscal 2027.

Nike stock charts

Nike's 1-hour chart showed that the Nike share price fell afterhours from a regular session close at $35.15 to as low as $32.79 before stabilizing closer to $34.00. The sell-off pushes Nike's share price back to 2014 levels and nearly 80% off the company's November 2021 high above $163.00.

Just when many had predicted that Nike was nearing a bottom, the monthly chart shows that the lowest price in 12 years could still fall further. The bottom trendline that connects earlier sell-offs in 2023, 2024 and 2025 points to NKE losing another 30% percent of its share price. That is, if bears attempt to retest that trendline in the vicinity of $23.00.

NKE monthly chart — NKE stock monthly chart

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

AUD/USD meets support around 0.6900

AUD/USD remains well on the defensive, bouncing off three-month lows near the 0.6900 level ahead of the opening bell in Asia on Friday. The pair has accelerated its weekly downtrend in response to the marked advance in the Greenback and the widespread selling pressure on the risk-linked assets.

USD/JPY sits at weekly top above 158.00 as bullish USD counters intervention risks

USD/JPY is sitting at the top end of its weekly range above 158.00 in the Asian session on Thursday. Despite the softer US PCE data, oil-driven inflation risks keep US bond yields elevated near multi-year highs. Moreover, the US-Iran standoff benefits the safe-haven US Dollar and supports the pair. Broad US Dollar strength counters hawkish BoJ expectations and Japanese intervention risks.

Gold alternates gains with losses below $4,200

Gold trades without a clear direction on Thursday, always below the key $4,200 mark per troy ounce. The yellow metal’s vacillating price action comes amid the marked advance in the US Dollar coupled with steady effervescence in the Middle East conflict.

Near Protocol slides below $5.00 after Near Intents $4M exploit

Near Protocol (NEAR) uptrend has been cut short, as the price slides below $5.00 on Thursday. The correction comes after an exploit on the network’s Near Intents services, which affected deposits and withdrawals across 11 crypto networks. NEAR is currently trading at $4.88, below the daily high of $5.54, while falling momentum indicators suggest that sellers are gaining the upper hand.

Markets are pricing a Fed pause. The jobs data says the hike is still coming

The market has rapidly changed its mind about the Fed. Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario.

Markets are pricing a Fed pause. The jobs data says the hike is still coming

The market has rapidly changed its mind about the Federal Reserve (Fed). Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario. Yet beneath that dramatic repricing, the US economy is sending a considerably less dovish message.