Nike reported fiscal Q3 2026 results beating earnings estimates by 24%, but shares fell 13.41% due to concerns over a slow turnaround. Wholesale revenue grew 5%, stabilizing traditional retail, but challenges persist with a 7-10% revenue drop in Greater China, a 35% plunge in Converse sales, and a 9% decline in digital revenue. Gross margin contracted due to tariff costs, and net income fell 34.5% amid higher taxes and operating pressures. CEO Elliott Hill admitted the turnaround is taking longer than expected, while CFO warned of ongoing restructuring impacts through year-end. Analysts expected growth next quarter, but management signaled continued disruption, with consumer sentiment near recession levels adding to uncertainty.
