Nike Issues Weak Revenue Forecast and Announces Additional Job Cuts

Key Facts

1Nike issued a weak revenue forecast, fueling investor concerns over the pace of CEO Elliott Hill's turnaround strategy.

2The company plans to slash more jobs following disappointing sales results.

Nike issued a weak revenue forecast, fueling investor concerns over the pace of CEO Elliott Hill's turnaround strategy. The New York Post reported that the company plans to slash more jobs following disappointing sales results, as the sportswear giant struggles with a slump in key markets such as China.

NKE closed at $35.40 on September 30, 2026, after reaching a day high of $35.99 and a low of $35.16. These pressures mount as the company expects revenue to decline in the high-single digits for fiscal 2027, reflecting ongoing structural headwinds for the major consumer brand.