Update: Nike Fiscal Q1 Earnings, Revenue Fall; Shares Drop Premarket

04:39 AM EDT, 10/02/2026 (MT Newswires) -- (Updates to include Pace initiative details in the seventh and eighth paragraphs, with the stock movement in the headline and ninth paragraph.) Nike (NKE) reported fiscal Q1 earnings late Thursday of $0.48 per diluted share, down from $0.49 a year earlier. Analysts polled by FactSet expected $0.44. Revenue in the three months ended Aug. 31 fell to $11.21 billion from $11.72 billion a year earlier. Analysts expected $11.32 billion. The company expects fiscal 2027 adjusted EPS of $1.15 to $1.35. Analysts expect $1.68. Fiscal 2027 revenue is expected to decline by high-single digits, Nike said. Nike's Pace initiative aims to accelerate its Sport Offense by modernizing its global supply chain, establishing a new India campus, realigning operations into three geographies and streamlining the organization to reduce costs. The company said it expects Pace to generate about $2.5 billion in cumulative savings through fiscal 2031, alongside about $1 billion in pre-tax charges, primarily employee-related costs. Nike shares fell 9.6% in premarket activity Friday.