Nike has signalled that revenues could decline in 2026, stirring concerns about its progress in a multiyear corporate turnaround and sending its shares tumbling in after-hours trading.
Fuelling the disappointing outlook, Nike also warned of a drop in revenue during the current quarter, as tough conditions in greater China and disruptions in Europe and the Middle East outweighed resilience in its main North American business.
Nike said it expected revenue to decline 2 to 4 per cent in its fiscal fourth quarter, which began in March, when the US and Israel’s war against Iran started. The sneaker and sportswear group said sales in China would be down about 20 per cent as it continued to take actions to “clean up” the marketplace in the country.
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