NIKE fiscal Q1 revenue up 1% to $11.7 billion, but EPS falls 30% to $0.49
NIKE reported fiscal first-quarter 2026 results for the period ended August 31, 2025. Revenue rose 1% to $11.7 billion on a reported basis but fell 1% on a currency-neutral basis, while net income fell 31% to $727 million and diluted EPS fell 30% to $0.49. The company cited lower average selling prices from higher discounts and channel mix, plus higher tariffs in North America, as pressures on gross margin, which dropped 320 basis points to 42.2%.
Key points
- Revenue was $11.7 billion, up 1% reported and down 1% currency-neutral; NIKE Direct fell 4% to $4.5 billion and Wholesale rose 7% to $6.8 billion.
- Gross margin decreased 320 basis points to 42.2%, primarily due to lower average selling price and higher tariffs in North America.
- Net income was $727 million, down 31%; diluted EPS was $0.49 versus $0.70 a year earlier.
- The company returned about $714 million to shareholders, including $591 million in dividends and $123 million in share repurchases.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.