What did NIKE (NYSE:NKE) report for its fiscal 2026 third-quarter results?

NIKE reported total revenues of $11.3 billion for Q3 FY2026, which remained flat on a reported basis compared to the prior-year period and declined by 3% on a currency-neutral basis. The company saw a 5% increase in wholesale revenues, while NIKE Direct revenues fell by 4%. Profitability faced pressure with a 130 basis point decline in gross margin and a 35% drop in net income to $0.5 billion.

How did wholesale revenues perform for NIKE (NYSE:NKE) in Q3 FY2026?

NIKE’s wholesale revenues grew to $6.5 billion, representing a 5% increase on a reported basis (up 1% currency-neutral). This suggests a resurgence in the company’s reliance on retail partnerships, which has been a key driver for growth despite challenges in other channels.

How did NIKE Direct revenues perform in Q3 FY2026?

NIKE Direct revenues declined by 4% to $4.5 billion, reflecting a 7% decrease on a currency-neutral basis. This decline indicates a challenging environment for NIKE’s digital and owned-store initiatives, with global consumer spending patterns affecting the company's performance in direct sales channels.

How did NIKE (NYSE:NKE) address the declining profitability in Q3 FY2026?

NIKE attributed its declining profitability to a period of transition as the company works to rebalance its inventory and refine its product innovation pipeline. Management is focused on addressing these issues to improve future performance and adapt to shifting consumer behaviors.

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Nike posts flat Q3 fiscal 2026 revenue of $11.3B

Written by Jon CuthbertPublished Mar 31, 2026, 12:00 AMLast Updated Jul 6, 2026, 10:31 AM

NIKE (NYSE:NKE) reported financial results for its fiscal 2026 third quarter ended February 28, 2026, on Tuesday, March 31, 2026.

The company generated total revenues of $11.3 billion, which remained flat on a reported basis compared to the prior-year period and represented a 3% decline on a currency-neutral basis.

The quarterly performance highlighted a significant shift in channel dynamics.

Wholesale revenues grew to $6.5 billion, an increase of 5% on a reported basis (up 1% currency-neutral), suggesting a resurgent reliance on retail partnerships.

NIKE Direct revenues fell 4% to $4.5 billion, declining 7% on a currency-neutral basis.

This trend reflects a challenging environment for the company’s digital and owned-store initiatives as consumer spending patterns fluctuate globally.

Profitability metrics faced downward pressure during the quarter.

Gross margin decreased by 130 basis points to 40.2%, driven by increased promotional activity and higher product input costs.

Net income also dropped 35% to $0.5 billion, resulting in diluted earnings per share of $0.35, also a 35% decrease year-over-year.

Management noted that the results reflect a period of transition as the company rebalances its inventory and refines its product innovation pipeline.