Overview
- Nike stock sank more than 15% after the March 31 results, reaching new multi-year lows.
- Nike reported Q3 FY2026 revenue of $11.3 billion, flat from a year ago, and earnings of $0.35 per share, down 35%.
- Management guided for a 2% to 4% sales decline in the current quarter.
- Gross margin fell by about 1.3 percentage points and selling and administrative costs rose 2%.
- Wholesale sales rose 5% as direct-to-consumer fell 4%, signaling a pivot back to retail partners even as revenue grew only about 9% over five years and net income dropped roughly 64%.