Nike (NYSE: NKE) slid 6.27% in post-market trading on October 1, 2026, after the company reported fiscal 2027 first-quarter results that fell short of Wall Street estimates and issued a downbeat full-year revenue forecast. The earnings release, published via Business Wire after the market closed at 4 p.m. ET, showed quarterly revenue that missed expectations as challenges in China and rising competition weighed on performance.
What happened
Nike released its fiscal 2027 first-quarter results after the market closed on October 1, 2026. The company reported revenue that missed analyst estimates, with management flagging ongoing weakness in China and intensifying competitive pressures as key headwinds. The Q1 FY2027 miss followed a period of declining performance for the athletic footwear and apparel maker.
Why the stock moved
According to Reuters, Nike quarterly sales missed estimates as China weakness and competition weighed on results. The Wall Street Journal reported that Nike projects a sales decline this year after posting lower first-quarter revenue. Market Watch noted that Nike's troubles are mounting and that sales could fall further.
Investopedia reported that Nike said its business will get worse before it gets better, contributing to the negative investor reaction. Proactive Investors noted that Nike warned of a high-single-digit revenue decline in fiscal 2027.
The company's guidance downgrade and acknowledgment of sustained headwinds prompted investors to sell shares in extended-hours trading, pushing the stock to its lowest level since 2013 according to Benzinga.
The numbers
Post-market session results:
- Last price: $32.89
- Session change: -6.27%
- Session volume: 31,447,135 shares
Regular-hours day change was -0.88%, which occurred during standard market hours before the earnings release.
What to watch
Investors will monitor whether Nike's turnaround efforts gain traction amid stiff competition from newer athletic brands. The company's management has acknowledged that conditions may worsen before improving. Key areas to watch include China market recovery, market share trends against competitors, and whether future quarterly reports show stabilization in revenue performance.