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DisputedEarnings

Nike forecasts full-year sales drop and job cuts as shares fall after earnings

Nike told investors to expect layoffs and a high-single-digit full-year sales drop, guided adjusted earnings to $1.15-1.35 a share against $1.68 expected, and shares fell after hours.

Sources report conflicting figures or facts.

Why it matters

Job cuts, a pullback in Greater China discount distribution and a full-year earnings guide well below where analysts were positioned all landed in the same report, and management's own $2.5 billion savings target runs to fiscal 2031. The mismatch between the reported after-hours declines and the share prices each outlet used leaves the size of the drawdown unsettled.

Where the sources disagree

How far the shares have fallen

4%

Protos

2%

Finbold

Protos calls the session a 13-year low while Finbold says the October 1 close was the lowest since 2023.

Key facts

Nike forecast a high-single-digit percentage decline in full-year sales on adjusted earnings of $1.15 to $1.35 a share, against the $1.68 analysts had projected.

1.15 USDReported by Protos

Earnings of 48 cents a share beat the 43 to 44 cent estimate.

0.48 USDReported by Protos

Greater China revenue fell 26% in currency-neutral terms.

26 %Reported by Protos

Nike said it would cut jobs, launch fewer retro products and fewer Jordan releases, and wind down most online discount channels in Greater China.

Reported by Protos

Freedom Broker upgraded Nike from Sell to Buy on October 2 while cutting its price target to $51 from $54, citing the Pace program and about $2.5 billion of cumulative savings expected through fiscal 2031.

51 USDReported by Finbold

What happened

Nike told investors on Thursday to expect layoffs, weaker profitability and fewer Jordan launches, forecasting a high-single-digit percentage sales decline for the full fiscal year on adjusted earnings of $1.15 to $1.35 a share, well below the $1.68 analysts had projected. Fiscal-quarter revenue fell 4% to $11.2 billion, short of the roughly $11.3 billion consensus, while profit of 48 cents a share beat the 43 to 44 cent estimate, and Finbold gives the same figures as $11.21 billion against a $11.32 billion forecast with net income down 2% from $727 million to $712 million. Greater China, which Protos describes as Nike's former growth engine, fell 26% in currency-neutral terms, and Nike plans to wind down most online discount channels in the area, cut jobs and reduce retro launches. Protos said the shares closed Thursday at a $53 billion market cap, down from $264 billion at the November 2021 peak, then dropped another 9% after hours, and Jim Cramer, who spent years defending the stock on CNBC, said the Nike guide was 'horrendous', while Finbold reported a 7.82% extended-session fall to $32.40 after an October 1 close of $35.15, itself 44.45% below the $63.28 start of the year. The outlets also differ on how deep the decline runs, with Protos calling the session a 13-year low and Finbold saying the October 1 close was the lowest since 2023. Finbold reported on October 4 that Freedom Broker raised Nike from Sell to Buy while cutting its price target to $51 from $54, citing the Pace transformation program and roughly $2.5 billion of cumulative savings expected through fiscal 2031, against a TradingView consensus target of $37.78.

How the story developed

  1. Update

    Freedom Broker upgrades Nike to Buy and cuts its target

    The rating moved from Sell to Buy on October 2 while the price target fell to $51 from $54, with the firm citing the Pace program and about $2.5 billion of savings through fiscal 2031.

    Finbold

  2. First report

    First report by Protos

    Nike warns of layoffs as stock hits 13-year low

    Protos

  3. Update

    Nike earnings report carries a weak full-year guide and layoff plans

    The quarterly report paired a 4% revenue decline with a high-single-digit full-year sales forecast, $1.15 to $1.35 adjusted earnings and plans to cut jobs and shrink Jordan and retro launches.

    Protos

  4. Independent corroboration

    Independently corroborated by Finbold

    $1,000 invested in Nike stock at the start of 2026 is now worth

    Finbold

  5. Update

    Extended-session losses deepen after the report

    Finbold puts the October 1 close at $35.15, down 44.45% from $63.28 at the start of 2026, and the extended session at $32.40.

    Finbold

  6. Update

    Analyst consensus target and one-year decline reported

    Finbold reports a TradingView consensus target of $37.78 and a 53% fall over the past year, making Nike one of the worst-performing large-cap consumer stocks.

    Finbold

How coverage built up

Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.

2 Oct, 11:562 independent sources4 Oct, 13:21

Affected entities

ChinaNYSEIndia
FundingInstitutions

Original sources

PublisherReportRolePublished
Protos
Crypto media		Nike warns of layoffs as stock hits 13-year lowOriginal
Finbold
Crypto media		$1,000 invested in Nike stock at the start of 2026 is now worthIndependent
Finbold
Crypto media		Nike stock receives rare Wall Street bullish upgradeIndependent

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