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NIKE Inc. reported a significant 10% revenue decline in Greater China for the first quarter of fiscal 2026, a critical market for the company. Revenue drops were seen across NIKE Direct and digital platforms, while wholesale decreased by 9%. The decline is attributed to weaker traffic and promotions, as well as poor seasonal performance.
Despite these challenges, NIKE noted the region’s importance, highlighting a high single-digit growth in running segments supported by new products. Globally, North America saw a 4% revenue increase, driven by strong performances in running, training, and basketball, while EMEA and APLA regions experienced modest growth amidst elevated promotional activities.
NIKE’s shares have decreased by 14.4% year-to-date, compared to a 17.1% decline in the industry. The company’s forward price-to-earnings ratio stands at 30.99X, above the industry average of 26.74X, as the Zacks Consensus Estimate indicates a 24.1% decline in fiscal 2026 earnings, with a projected rebound of 54.2% in fiscal 2027.
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