NIKE, Inc. (NYSE: NKE) has released its financial results for the third quarter of fiscal 2026, reporting revenues of $11.3 billion, which remained flat on a reported basis and decreased by 3% on a currency-neutral basis compared to the same period last year. The company's wholesale revenues increased by 5% to $6.5 billion, while NIKE Direct revenues fell by 4% to $4.5 billion. The gross margin also saw a decline, decreasing by 130 basis points to 40.2%. Diluted earnings per share were reported at $0.35, reflecting a significant decrease of 35% from the previous year. CEO Elliott Hill stated, "This quarter we took meaningful actions to improve the health and quality of our business. The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum." Despite the challenges, the company remains focused on positioning itself for profitable growth in the long term. The results indicate a need for continued strategic adjustments as NIKE navigates a competitive market environment.

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