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Nike Revenue Slowdown Triggers Pace Cost-Cuts and Planned Layoffs

Oct 2, 2026, 11:58 AM EDT2 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The negative revenue forecast, announced layoffs, and a large cost-cutting program imply near-term downside for NKE. The stock has already fallen ~48% YTD, and ongoing China softness adds structural headwinds, though Pace may bolster long-run margins if execution succeeds.

AI summary

What happened, with direct paths to the underlying reporting

Nike unveiled a disappointing revenue forecast and a Pace cost-cutting plan that includes layoffs starting 2027. Q1 revenue fell 4% to $11.2B, with China softness offset by North America gains. The Pace program targets $2.5B in savings by 2031 amid intensifying competition from On and other brands, signaling a long transition for margin recovery.

Nike forecasts high-single-digit revenue decline for fiscal 2027.
Q1 revenue down 4% to $11.2B; China weakness persists.
Pace plan targets $2.5B in savings by 2031; layoffs expected.
Three geographies to reset structure; Bengaluru campus expansion.

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