NKE · Full Picture

NIKE, Inc. — the full picture

Earnings window · 2026-07-15 to 2026-11-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Strategic Cost Reduction · Input & product costsPriority 81
    +11.2% operating_income; 2 sources (news, sec_filing); 1 forward row(s); quote_verified
    We expect the program to deliver approximately $2.5 billion in cumulative savings through fiscal 2031.
  2. Purchase Commitments and Contractual Obligations · Commitments & obligationsPriority 72
    -16.2% liability; 2 forward row(s); structured_verified
    As of May 31, 2026, product purchase obligations were approximately $4.9 billion with approximately $4.7 billion payable within the next 12 months.
  3. Endorsement Contract Obligations · UnclassifiedPriority 71
    -34.3% liability; 1 forward row(s); quote_verified
    As of May 31, 2026, endorsement contract obligations, including associated marketing commitments, were approximately $15.5 billion with approximately $1.7 billion payable within 12 months.
  4. Product Management and Transitions · UnclassifiedPriority 69
    3 sources (news, press_release, sec_filing); 1 forward row(s); quote_verified
    Nike was set to launch Caitlin Clark's signature shoe this week around September 28, 2026.
  5. Capital Return Program · Buybacks & dividendsPriority 68
    -6.5% cash (realized); 3 sources (news, press_release, sec_filing); 3 forward row(s); quote_verified
    In June 2026, the Board of Directors reapproved the $18 billion share repurchase program to continue without a fixed expiration date and without increasing the aggregate amount authorized for repurchase.
  6. Guidance and Outlook · Guidance & outlookPriority 66
    2 sources (news, press_release); 10 forward row(s); quote_verified
    Revenues are expected to decline high-single digits in fiscal 2027
  7. Revenue Performance and Mix · Revenue growth & mixPriority 66
    -1.6% revenue; 3 sources (news, press_release, sec_filing); 4 forward row(s); structured_verified
    NIKE, Inc.'s Q1 FY27 showed Greater China revenue down 22% and Converse down 28%, and management is guiding high‑single‑digit revenue declines for the full year.
  8. Converse Revenue Decline and Reset · Revenue growth & mixPriority 63
    -4.9% margin (realized); 3 sources (news, press_release, sec_filing); structured_verified
    Converse reported EBIT decreased 93% in fiscal 2026 compared to fiscal 2025, resulting in Converse EBIT of $(93) million in fiscal 2026.
  9. Restructuring and Headcount · Restructuring & impairmentPriority 63
    3 sources (news, press_release, sec_filing); 3 forward row(s); quote_verified
    We expect the program to result in pre-tax charges of approximately $1.0 billion, which is in addition to approximately $0.3 billion of severance costs recognized in fiscal 2026 in connection with the March 2026 plan.
  10. Financing Activities · Debt, leverage & refinancingPriority 58
    -6.0% cash (realized); structured_verified
    Cash used by financing activities in fiscal 2025: $5,820 million, primarily driven by share repurchases, dividend payments and a $1 billion bond repayment.
  11. Liquidity and Cash Position · Liquidity & cash positionPriority 57
    quote_verified
    As of May 31, 2026, Cash and equivalents and Short-term investments totaled $9.0 billion, primarily consisting of commercial paper, corporate notes, deposits held at major banks, money market funds, U.S. Treasury obligations and other investment grade fixed-income securities.
  12. Greater China Performance · UnclassifiedPriority 56
    +2.1% margin (realized); 2 sources (news, sec_filing); 3 forward row(s); structured_verified
    NIKE, Inc.'s Greater China revenue plunged 26% year-over-year and management does not expect regional recovery until FY28 or later.

Threads by pillar

Revenue & Demand Priority 83 · 6 threads

Costs & Margins Priority 92 · 10 threads

Capital & Balance Sheet Priority 91 · 8 threads

Strategy & Portfolio Priority 54 · 1 thread

Legal, Regulatory & Policy Priority 50 · 6 threads

Guidance & Outlook Priority 66 · 1 thread

Macro & Market Conditions Priority 57 · 4 threads

Management & Governance Priority 36 · 3 threads

Unclassified Priority 92 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
liability-50.5%+50.5%+5.5%
operating_income+16.5%+16.5%+1.7%
revenue-1.7%+1.7%-3.7%
cash——-17.2%
margin——-2.8%
assets——-0.6%