The Investor
01 Jul 2026, 09:39
Nike (NYSE: NKE) shares fell 4.3% in premarket trading after the company reported fiscal fourth-quarter and full-year 2026 results, while Guggenheim reiterated its Buy rating with a $60 price target.
Although Nike reported diluted EPS of $0.72, boosted by a one-time $0.52 benefit from the expected recovery of IEEPA tariffs, quarterly revenue declined 1% year over year to $11.0 billion as weakness in Nike Direct and continued softness in Greater China weighed on results. Full-year net income also slipped 3% despite management highlighting progress in improving profitability and strengthening the company's long-term growth strategy.
The market appeared to focus on the company's ongoing top-line headwinds and challenging consumer environment, overshadowing Guggenheim's continued bullish stance and sending Nike shares lower in premarket trading.
Although Nike reported diluted EPS of $0.72, boosted by a one-time $0.52 benefit from the expected recovery of IEEPA tariffs, quarterly revenue declined 1% year over year to $11.0 billion as weakness in Nike Direct and continued softness in Greater China weighed on results. Full-year net income also slipped 3% despite management highlighting progress in improving profitability and strengthening the company's long-term growth strategy.
The market appeared to focus on the company's ongoing top-line headwinds and challenging consumer environment, overshadowing Guggenheim's continued bullish stance and sending Nike shares lower in premarket trading.