NKE · 10-Q · 2026Q3 · Full report

Distribution Channels

NIKE, Inc. · 2026-10-02 · Importance 63 · Surprise 50

NIKE is repositioning NIKE Brand Digital as a full-price platform while reinvesting in wholesale distribution and elevating brand presentation in physical retail. NIKE Direct revenue declined 9% on a currency-neutral basis, including a 13% decline in NIKE Brand Digital sales and a 5% decline in NIKE store sales. Wholesale revenue declined 1% on a currency-neutral basis, with lower Greater China revenue partially offset by higher North America revenue. NIKE is liquidating inventory through increased NIKE Direct markdowns and higher returns and discounts with wholesale partners to create capacity for new products.

Key facts

• NIKE Brand wholesale revenues were $6.8 billion for the first quarter of fiscal 2027 and the first quarter of fiscal 2026. source
• NIKE Brand Digital sales were $1.8 billion for the first quarter of fiscal 2027 compared to $2.1 billion for the first quarter of fiscal 2026. source
• NIKE Direct revenues were $4.1 billion for the first quarter of fiscal 2027 compared to $4.5 billion for the first quarter of fiscal 2026. source
• NIKE store sales were $2.3 billion for the first quarter of fiscal 2027 compared to $2.4 billion for the first quarter of fiscal 2026. source
• On a currency-neutral basis, NIKE Direct revenues were down 9% due to declines in NIKE Brand Digital sales of 13% and declines in NIKE store sales of 5%. source