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Nike cut its full-year revenue outlook after missing first-quarter estimates

The sportswear company posted $11.21 billion in first-quarter sales, short of analyst expectations, and now expects revenue to fall in fiscal 2027

Sheldon Cooper / SOPA Images / LightRocket via Getty Images

Nike $NKE reported fiscal first-quarter revenue of $11.21 billion on Thursday, down 4% from a year earlier, and projected a high-single-digit percentage decline in revenue for fiscal 2027.

The company had previously forecast a low-to-mid-single-digit percentage decline in the first half of the fiscal year, according to Reuters.

Analysts had expected revenue of $11.32 billion for the quarter, according to CNBC. Earnings per share of 48 cents topped........

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