Nike announces $2.5 billion restructuring and job cuts amid falling sales FAST-MOVING

Nike earnings Pace restructuring China market decline job cuts retail sector

Nike has announced a major restructuring program titled ‘Pace’ aimed at generating approximately $2.5 billion in cumulative savings through fiscal 2031. The initiative includes organizational streamlining, modernizing the global supply chain, and establishing a new campus in India. CEO Elliott Hill confirmed that these changes will result in fewer positions across the company, with specific decisions regarding job cuts expected to begin in 2027.

The company’s fiscal first-quarter 2027 results showed revenue of $11.2 billion, a 4% decline year-over-year, missing market expectations. Net income fell 2% to $712 million, though diluted earnings per share of $0.48 exceeded analyst estimates. While North American revenue grew by 2%, the company faced significant headwinds in Greater China, where sales plunged 26%, marking the ninth consecutive quarterly decline in the region.

Nike also issued a cautious outlook, forecasting that total revenue for fiscal 2027 will decline by a high-single-digit percentage. The company is working to address weaknesses in its Jordan Brand and Nike Sportswear lines while attempting to shift focus back toward performance-driven products and strengthening relationships with wholesale retailers.

Entities

Adidas · Bengaluru · China · Converse · Elliott Hill · India · Jordan Brand · Nike · Phil Knight

Claims

What the coverage asserts, and how many sources carry each claim.

[● 14 SOURCES] CEO Elliott Hill announced that the cost-cutting measures will include job cuts. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.diarioextra.com · www.elnuevosiglo.com.co · +8 more
[● 13 SOURCES] Nike forecasts a high single-digit percentage decline in revenue for the fiscal year ending May 2027. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.diarioextra.com · www.elnuevosiglo.com.co · +7 more
[● 6 SOURCES] The company is shifting strategy to reduce reliance on direct sales and rebuild relationships with retail partners. www.ad-hoc-news.de · www.wz.de · www.upday.com · www.diepresse.com · www.jamaicaobserver.com
[● 6 SOURCES] CEO Elliott Hill has ordered a renewed focus on performance athletes over lifestyle products. www.ad-hoc-news.de · www.wz.de · www.upday.com · www.diepresse.com · www.jamaicaobserver.com
[● 6 SOURCES] Nike shares fell approximately 4 percent in after-hours US trading. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.upday.com · kurier.at
[● 15 SOURCES] Quarterly profit decreased by 2 percent to 712 million dollars. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.diarioextra.com · www.elnuevosiglo.com.co · +9 more
[● 10 SOURCES] Quarterly revenue fell 4 percent year-over-year to 11.2 billion dollars. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.diarioextra.com · www.elnuevosiglo.com.co · +4 more
[DISPUTED] Nike plans to achieve 2.5 billion dollars in savings over the next few years. www.ad-hoc-news.de · www.wz.de · www.brasilemfolhas.com.br · www.diarioextra.com · www.elnuevosiglo.com.co · +11 more
[DISPUTED] Nike unveiled an expanded restructuring program called Pace to generate approximately $2.5 billion in cumulative savings through fiscal 2031. coinpaper.com · finance.technews.tw · vinnews.com · www.cnbcindonesia.com · www.el-carabobeno.com · +4 more
[● 17 SOURCES] Nike reported fiscal first-quarter revenue of $11.2 billion, a 4% decrease year-over-year. www.ftnews.sk · theasset.nl · coinpaper.com · finance.technews.tw · news.alphastreet.com · +12 more
[● 7 SOURCES] Gross margin rose to 42.8% due to lower warehousing and logistics costs. www.ftnews.sk · theasset.nl · coinpaper.com · finance.technews.tw · news.alphastreet.com · +2 more
[● 9 SOURCES] Diluted earnings per share for the first quarter were $0.48. www.ftnews.sk · theasset.nl · coinpaper.com · finance.technews.tw · news.alphastreet.com · +4 more