NKE · 10-K · 2026A · Full report
Distribution Channels
NIKE, Inc. · 2026-07-15 · Importance 74 · Surprise 58 · From source text
Wholesale grew to $27.5 billion in fiscal 2026 (from $25.9B), driven by higher revenues in North America and expanded distribution, while NIKE Direct declined to $17.7 billion (from $18.8B) primarily due to decreased traffic and a 12% drop in NIKE Brand Digital sales. NIKE is intentionally shifting NIKE Brand Digital back to a full-price platform and reinvesting in wholesale, which altered channel mix and affected ASPs. Channel mix dynamics have been a material driver of ASP movements in footwear and apparel and of gross margin via lower warehousing and logistics costs.
Key facts
- NIKE Brand wholesale revenues were $27.5 billion in fiscal 2026 compared to $25.9 billion in fiscal 2025. source
- NIKE Direct revenues were $17.7 billion in fiscal 2026 compared to $18.8 billion in fiscal 2025. source
- NIKE Brand Digital sales were $8.6 billion in fiscal 2026 compared to $9.6 billion in fiscal 2025, with declines primarily due to reduced traffic. source
- Comparable store sales decreased 4% in fiscal 2026 (NIKE Brand overall). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +3.5% | NIKE Brand wholesale revenues were $27.5 billion in fiscal 2026 compared to $25.9 billion in fiscal 2025. |
| revenue | negative | realized | -2.4% | NIKE Direct revenues were $17.7 billion in fiscal 2026 compared to $18.8 billion in fiscal 2025. |
| revenue | negative | realized | -2.2% | NIKE Brand Digital sales were $8.6 billion in fiscal 2026 compared to $9.6 billion in fiscal 2025, with declines primarily due to reduced… |