Sports giant Nike’s recovery is proceeding more slowly than hoped. Due to a combination of uncertain prospects, declining margins, and ongoing challenges in China, CEO Elliott Hill is asking for more time to turn the company around.
Revenue stalls, profits plunge
In the third quarter of fiscal year 2026, Nike reported revenue of $11.3 billion (€10.4 billion), virtually unchanged from a year earlier. However, net profit fell by 35% to $520 million (€479 million), while earnings per share dropped from 54 cents (€0.50) to 35 cents (€0.32).
