Nike stock fell 3.64 percent after weak fiscal 2027 outlook

Published on 10/05/2026 at 22:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nike stock closed at USD 33.87 on October 2, 2026, after fiscal first-quarter revenue reached USD 11.21 billion. Nike targets USD 2.5 billion in savings through fiscal 2031.

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Nike (ISIN US6541061031) stock closed at USD 33.87 on the NYSE on October 2, 2026, down 3.64 percent for the session. The move followed fiscal 2027 first-quarter results and a high-single-digit revenue decline forecast for the full fiscal year, reported in Nike's October 1 release.

Revenue falls as guidance weakens

According to NIKE on October 1, fiscal first-quarter revenue for the period ended August 31, 2026, was USD 11.2 billion, down 4 percent on a reported basis and down 5 percent on a currency-neutral basis. Diluted EPS was USD 0.48, while gross margin expanded 60 basis points to 42.8 percent.

The earnings mix was uneven. Nike Brand wholesale revenue was USD 6.8 billion, down 1 percent, while Nike Direct revenue fell 8 percent to USD 4.1 billion and Converse revenue declined 28 percent to USD 263 million, according to the same October 1 release.

Pace targets USD 2.5 billion

Nike's fiscal 2027 outlook now calls for revenue to decline by a high-single-digit percentage. Adjusted diluted EPS is projected at USD 1.15 to USD 1.35, excluding USD 0.15 of restructuring expense tied to the Pace program, according to NIKE.

The company expects Pace to deliver USD 2.5 billion in cumulative savings through fiscal 2031 against USD 1.0 billion of pretax charges. CNBC reported on October 1 that the restructuring will lead to layoffs beginning in 2027, adding a workforce risk to the cost-saving plan.

Consensus stays Hold

According to TradingView on October 3, the consensus rating was Hold across 43 covering analysts, with an average target of USD 37.78 and forecasts ranging from USD 19 to USD 70. Based on the USD 33.87 October 2 close, the average price target lies 11.5 percent above the stock price.

Barclays analyst Adrienne Yih maintained a Buy rating and set a USD 37.00 target on October 5, according to Markets Insider. The target sits USD 3.13 above the October 2 close, while the broader consensus remains below its October 2 average of USD 42.12 cited in other market coverage.

Nike stock stays above yearly low

Nike stock traded within a USD 31.97 to USD 76.97 52-week range as of October 2, 2026, leaving the close 5.9 percent above the low. Market capitalization was USD 50.1 billion and volume reached 141.7 million shares on that date.

Nike's October 2 close of USD 33.87 on the NYSE remains the key market marker after the earnings reset. The combination of lower revenue, stronger gross margin and a multi-year savings plan leaves the pace of the turnaround tied to demand recovery in Sportswear, Jordan Brand and Greater China.