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.

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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.

For those who want to reference today's press release, you'll find it at investors.nike.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.

Hello everyone and thank you for joining us today to discuss Nike Inc.'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.

Please refer to Nike's earnings press release or Nike's website investors.nike.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.