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Nike (NKE) investor relations material
Nike Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY2027 revenue was $11.213B, down 4% reported and 5% currency-neutral; gross margin rose 60 bps to 42.8%.
Net income fell 2% to $712M and diluted EPS was $0.48; North America growth partly offset weakness in Greater China and Converse.
Pace launched as a multiyear operating-model transformation targeting productivity, organizational effectiveness and $2.5B in cumulative savings through FY2031.
Financial highlights
Revenue was $11.213B (-4% YoY); gross profit was $4.798B (-3%), operating expenses were $3.910B (-3%), and net income was $712M (-2%).
Diluted EPS was $0.48 vs. $0.49; demand creation expense rose 5% to $1.252B, while operating overhead fell 6% to $2.658B.
Operating cash flow was $135M vs. $222M; cash and equivalents ended at $6.903B, with cash plus short-term investments totaling $8.4B.
Returned $610M to shareholders through dividends, up 3% YoY.
Inventory was $7.846B, up 5% from May 31, 2026, primarily due to product-mix shifts; substantially all inventory was finished goods.
Outlook and guidance
FY2027 revenue is expected to decline high single digits; EBIT is projected to fall at a greater rate than revenue.
Adjusted FY2027 EPS guidance is $1.15–$1.35, excluding $0.15 of Pace-related restructuring expenses.
Pace targets $2.5B in cumulative savings through FY2031; ~$1.0B in pretax charges are expected, in addition to ~$0.3B of FY2026 severance costs, with ~$0.3B expected in FY2027.
Marketplace actions in Sportswear and Jordan extend beyond FY2027; Converse reset actions continue through FY2027, and Greater China actions extend beyond FY2027.
- Board and management proposals passed; focus on innovation, Sport Offense, and market resets.NKE
AGM 2026 - Director elections, compensation, auditor ratification, and key shareholder proposals headline the agenda.NKE
Proxy filing - Board recommends all management proposals and opposes both shareholder proposals at 2026 meeting.NKE
Proxy filing - Board-backed proposals passed, shareholder proposals failed, and strategic growth plans outlined.NKE
AGM 2024 - Q4 net income surged 407% on a $986M tariff recovery, while full year revenue was flat.NKE
Q4 2026 - Flat revenue and a 35% drop in net income reflect margin pressure and ongoing strategic resets.NKE
Q3 2026 - Q2 revenue fell 8% and net income dropped 26% as leadership accelerates a strategic reset.NKE
Q2 2025 - Revenue and net income declined sharply, but gross margin improved and CEO transition announced.NKE
Q1 2025 - Revenue and profit declined sharply, but long-term brand momentum and returns remain a focus.NKE
Q3 2025
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Frequently asked questions
One of the world's most iconic brands
Nike is a prominent player in the sports and athletic apparel industry. With a global presence and a strong brand identity, Nike offers a broad range of products including footwear, apparel, and accessories. Nike's business encompasses design, development, marketing, and distribution of its products through various channels, including its own stores, online platforms, and partnerships. With a commitment to providing the best possible equipment for both athletes and everyday people, Nike has been able to grow from a small Oregonian outfit to one of the leading brands in the broader fitness industry.
A clear vision
Nike, founded in 1964 as Blue Ribbon Sports, traces its roots to the partnership between Phil Knight and Bill Bowerman. Phil Knight, a track athlete at the University of Oregon, recognized the business potential in importing low-cost, high-quality running shoes from Japan. With a shared passion for sports and a vision for creating innovative athletic footwear, Knight and Bowerman formed a strong partnership. The name was changed to Nike, inspired by the Greek goddess of victory, in 1971. Nike has grown from a small outfit to a global powerhouse largely due to its focus on innovation, design, and marketing, but also thanks to the brand's ability to produce products that both athletes and private individuals love.
One of the worlds most recognizable brands
Nike, with its iconic Swoosh logo, has achieved a remarkable level of global brand recognition. The Swoosh, designed by Carolyn Davidson in 1971, has grown to become an instantly recognizable symbol for the brand. Through consistent and strategic brand positioning, Nike has become one of the world's most recognizable brands thanks to the distinctive look of their logo in conjunction with quality products, marketing campaigns, and partnerships with top athletes.
From The Beaver State to the world
Nike was founded in the state of Oregon, and has their global headquarters in Beaverton. Nike has evolved into a globally recognized brand with a broad international presence. With a widespread network of retail stores, e-commerce platforms, and strategic partnerships, Nike sells their products all over the globe. The company's commitment to continuous innovation, cutting-edge design, and advanced technologies has contributed to its impactful market position. Other similar brands and some of Nike's largest competitors include other behemoths of the athletic apparel industry such as Under Armour and Adidas.
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