Nike reported flat third-quarter revenue of $11.3 billion for fiscal 2026, prompting shares to fall more than 8% in after-hours trading. CEO Elliott Hill acknowledged the company's "Win Now" turnaround plan is progressing slower than anticipated, though he expressed confidence in the overall approach.
The results highlight Nike's ongoing transition as it refocuses on performance wear and puts sports back at the center of its mission. Running emerged as the bright spot, becoming the first category to move into Nike's "sport offense" strategy and driving growth for the quarter.