NIKE, Inc. — Form 8-K
Filed October 1, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Nike reported Q1 FY27 revenues of $11.2B (down 4% YoY), with gross margin expanding 60bp to 42.8%. The company announced 'Pace,' a major operating model transformation targeting $2.5B cumulative savings through FY31, with $1.0B in pre-tax charges ($0.3B in FY26, ~$0.3B in FY27) and $0.3B severance costs. Greater China declined 22% (currency-neutral: 26%), Converse fell 28%, and Nike Direct dropped 8–9%; North America remained resilient (+2%). Full-year FY27 revenue guidance: high-single-digit decline; adjusted diluted EPS: $1.15–$1.35 (excluding ~$0.15 restructuring impact).
Why this rating
Revenue decline + major restructuring program meaningful for $80.5B firm; China weakness material concern; Pace savings ($2.5B over 5 years, ~3.1% of annual revenue) and near-term charges substantial but offset by margin gains and cost discipline.
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