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Nike's revenue falls 3% YoY at constant currency despite beating estimates, signaling demand weakness.

Company Fundamentals
01 Apr 2026
Seeking Alpha
View Source
Bearish
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Nike reported Q3 earnings with revenues down about 3% year-over-year at constant currency, revealing ongoing demand weakness especially in EMEA and China. Although gross margin held better than expected at 40.2%, it couldn't offset declining volumes, a $1 billion footwear revenue gap versus FY24, and pressure from tariffs and product mix. The stock trades at a premium but lacks growth momentum, leaving limited upside and an unproven turnaround ahead.

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