Nike posted weak financial results for the full year to May 31, 2026, with revenues flat on a reported basis at $46.4bn and down 2 per cent on a currency-neutral basis compared to last year.
The brand’s fourth-quarter revenues decreased by 1 per cent on a reported basis year-on-year to $11bn.
The revenue for the Nike brand experienced a slight increase of 1 per cent on a reported basis to $45.2bn, due to declines in the Greater China region and EMEA, which was partially offset by growth in North America.
Nike’s net income decreased by 3 per cent to around $3.1bn and the revenues for the Converse brand declined by 31 per cent on a reported basis due to a weak performance across all territories.
The company experienced a major net income increase of 407 per cent to $1.1bn in the fourth quarter due to the changes in tariff policies.
Moving forward the business is confident in its ability to mitigate the current financial headwinds and will continue to push towards its turnaround strategy.
Elliott Hill, president and CEO of Nike said: “In fiscal 2026, we took decisive actions to strengthen the foundation of Nike Inc. and reposition our business for long-term growth.
“While we continue to face top-line headwinds, we’re encouraged by progress in performance products and are focused on consistent execution, improved profitability, and scaling our wins to realize our full potential.”
Matthew Friend, EVP and CFO of Nike said: “We delivered fourth quarter results in line with our expectations, demonstrating financial discipline in an increasingly challenging operating environment, where sell-through remains challenged.
“We are improving the health of our business, managing our product portfolio, and investing in marketplace elevation while adjusting our operating costs for greater efficiency over time.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
