Nike reports Q4 revenue decline amid gross margin expansion

• Nike (NYSE:NKE) reported fourth quarter fiscal 2026 revenue of $11 billion, down 1% on a reported basis.
• Gross margin increased 890 basis points to 49.2%, benefiting from expected recovery of IEEPA tariffs.
• Diluted EPS was $0.72, including a $0.52 benefit related to the tariff recovery.

Nike (NYSE:NKE) reported fourth quarter fiscal 2026 revenue of $11 billion, down 1% on a reported basis and down 4% on a currency-neutral basis.

Wholesale revenues for the fourth quarter were $6.6 billion, up 4% on a reported basis and up 1% on a currency-neutral basis.

NIKE Direct revenues for the fourth quarter were $4.1 billion, down 7% on a reported basis and down 9% on a currency-neutral basis.

Gross margin for the fourth quarter increased 890 basis points to 49.2 percent, including an approximately 900 basis point benefit due to the expected recovery of the International Emergency Economic Powers Act tariffs.

Diluted earnings per share was $0.72 for the fourth quarter, including a $0.52 benefit related to the expected recovery of the IEEPA tariffs.

For the full fiscal year 2026, revenues were $46.4 billion, flat on a reported basis and down 2 percent on a currency-neutral basis.