Nike Q4 2026 Earnings Call: Complete Transcript

On Tuesday, Nike (NYSE: NKE ) discussed fourth-quarter financial results during its earnings call. The full transcript is provided below. APIs provide real-time access to earnings call transcripts and financial data. Visit to learn more.

View the webcast at Watch the full earnings call below: Summary Nike Inc. reported flat revenue on a reported basis for FY26, with challenges in sportswear and Jordan Streetwear impacting sales, while the performance business showed mid-single-digit growth. Strategic initiatives include the 'Sport Offense' model and investments in supply chain efficiency, aimed at long-term growth and improved operational performance. Nike anticipates revenue to decline low to mid-single digits in the coming quarters, with a focus on improving gross margins and reducing inventory to enhance profitability.

Operational highlights include double-digit growth in Nike running and a 4% increase in wholesale revenue, particularly in North America. Management emphasized structural improvements and the importance of sport-led initiatives to drive brand strength and consumer engagement, despite a challenging macroeconomic environment. Full Transcript OPERATOR Good afternoon everyone and welcome to Nike Inc's Fourth Quarter Fiscal 2026 conference call. com.

Leading today's call is Paul Trussell, VP of Corporate Finance and Treasurer. I'd now like to turn the call over to Paul Trussell. Paul Trussell, VP Of Corporate Finance & Treasurer Thank you, operator. 's Fourth Quarter Fiscal 2026 results.

Joining us on today's call will be Nike Inc. President and CEO Elliott Hill and EVP and CFO Matt Friend. Before we begin, let me remind you that participants on this call will make forward-looking statements based on current expectations and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in Nike's reports filed with the SEC.

In addition, participants may discuss non-GAAP financial measures and non-public financial and statistical information. com for comparable GAAP measures and quantitative reconciliations. All growth comparisons on the call today are presented on a year-over-year basis and are currency neutral unless otherwise noted. We will start with prepared remarks and then open the call for questions.

We would like to allow as many of you to ask questions as possible in our allotted time, so we'd appreciate you limiting your initial question to one. Thank you for your cooperation on this. I'll now turn the call over to Nike Inc. President and CEO Elliott Hill.

Elliott Hill, President and Chief Executive Officer Thank you, Paul. I'm proud of the progress our team made in fiscal year 26. When I look back at where we started the year and where we are today, it's clear that we're building a much stronger foundation for our company through our Win Now priorities. We're elevating the fundamentals of our business across our team culture, innovative product, brand strength, and how we serve consumers in our countries and cities.

We're making meaningful structural improvements in each of them. Win Now is making the comeback possible and importantly, it's what's enabled us to move about 8,000 teammates into vertical sport teams under our new operating model, the Sport Offense, while also taking meaningful steps to simplify and accelerate our supply chain and technology. As our foundation improves, the Sport Offense is starting to create impact. Our renewed obsession with sport and the success of our athletes is fueling energy for our brands and building momentum in our performance business, which grew mid-single digits this fiscal year.

Overall, the results aren't there yet. We know we're not living up to our full potential, particularly in Nike Sportswear and Jordan Streetwear, where sell-through remains challenged, impacting both current discounting and future order books. We're operating in a more complex macro environment where we're seeing added pressure on traffic and discretionary spending across our geographies. But we're focused on what we can control: bringing each sport together across product, brand, marketplace, and operations, and deepening our connections with athletes, consumers, and partners.

When those dimensions connect, they create the Nike multiplier. It's repeatable and sustainable. That's why I'm confident we're building Nike the right way, not for the next quarter, but for the next decade. Now the opportunity is consistent execution across every part of the portfolio.

From here, we have to prove it every season. Now let me walk you through the details of the clearest signals of our progress in FY26. This year, we directed our marketing, social, and communications outreach to build influence across a wide network of sport-specific communities. We did that through our deep portfolio of athletes, creators, and sport partners.

And through those networks, we brought energy and a uniquely Nike point of view to sports moments, both big and small. When we lead with sport authentically, consumers respond, and we see that in both internal and external brand tracking. Our focus now is translating that brand strength into healthier demand, cleaner marketplaces, and sustainable growth. You can see the same energy in our broader product pipeline too.

We've now delivered five consecutive quarters of double-digit growth in Nike running. And over that period, we've added roughly a billion dollars to our running business in FY26. Across Western Europe and North America, we gained 5 points of running market share in statement footwear, more than any other top five brand. The inte