Nike Shares Gain 5.2% as Consumer Sector Outpaces Market Midday

Nike shares gained 5.2% Thursday, Oct. 15, while a consumer-stock benchmark outpaced the broader market, even as the company forecast a high-single-digit decline in fiscal 2027 revenue.

Nike closed at $37.14 at 4 p.m. ET (20:00 UTC), up from $35.30 Wednesday. Trading volume totaled 46,436,519 shares. The stock finished Friday, Oct. 16, at $37.13, down 0.03% for the session and 41.72% year to date.

At 11:11 a.m. ET (15:11 UTC) Thursday, the Consumer Discretionary Select Sector SPDR ETF was up 1%, while the SPDR S&P 500 ETF Trust was nearly unchanged. Lululemon was up 4% in that snapshot, while On Holding was down 0.6%.

Nike reported $11.213 billion in revenue for the three months ended Aug. 31, down 4% from a year earlier, in its fiscal 2027 first-quarter results. Diluted earnings per share were $0.48, and gross margin rose 60 basis points to 42.8%. Greater China revenue fell 22% on a reported basis.

Nike expects revenue to decline by a high-single-digit percentage in fiscal 2027. Its adjusted diluted earnings-per-share outlook is $1.15 to $1.35, excluding about $0.15 per share in Pace restructuring expenses.

The company projects total Pace savings of about $2.5 billion by the end of fiscal 2031, with pretax charges totaling about $1 billion over the same period. CEO Elliott Hill said, “The Sport Offense is driving measurable progress across our performance business.”