Nike stock sinks as revenue misses estimates, expects to cut jobs - Yahoo Finance
Nike stock dropped 5% following a revenue miss and the announcement of upcoming layoffs. CEO Elliott Hill cited a challenging sportswear market and plans to reduce costs to improve operational efficiency.
Why it matters
Nike's performance is a bellwether for the global retail and sportswear industry, and its struggles reflect broader economic pressures on consumer discretionary spending.
Nike stock sinks as revenue misses estimates, expects to cut jobs Ines Ferré · Senior Business Reporter Fri, October 2, 2026 at 10:06 AM EDT NKE -3.64% UAA +1.51% DECK -0.57% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
What happened: Nike ( NKE ) stock fell 5% in early trading on Friday after posting its fiscal first quarter results and announcing operational changes, which will include layoffs. Shares of Nike rivals On ( ONON ), Under Armour ( UAA ), and Hoka maker Deckers Outdoor ( DECK ) also dropped.
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