NKE · 10-K · 2026A · Full report

Marketplace Management Actions

NIKE, Inc. · 2026-07-15 · Importance 34 · Surprise 42

NIKE is re-positioning NIKE Brand Digital as a full‑price platform and reinvesting in wholesale distribution, including liquidating inventory through increased markdowns across NIKE Direct and accepting higher sales returns and discounts with wholesale partners to reduce inventory and create capacity for new product. Management is also investing to elevate brand presentation in physical retail and accelerating product innovation while reducing certain footwear supply in-market to rebalance the portfolio. The Company expects to complete these product, marketplace and brand management actions by the end of December 2026 and notes timing of financial impacts varies by segment (North America has made the most progress; Greater China and Converse will take more time). NIKE acknowledges these actions may negatively impact near-term Revenues and profitability but are intended to reignite brand momentum and drive long‑term value.