On 1 October 2026, with its fiscal 2027 first-quarter results, Nike announced a deeper restructuring under chief executive Elliott Hill, including further job cuts. Quarterly sales fell 4% to $11.21 billion, below the $11.32 billion average estimate compiled by LSEG.

Sales in China fell 26% on a constant-currency basis in the quarter, the ninth consecutive quarterly decline in that market, Reuters reported. The region accounts, in the same reports, for about 15% of Nike’s annual revenue, its third-largest market after North America and EMEA.

The company missed revenue expectations and projected a high-single-digit decline in sales for the full 2027 fiscal year. Shares fell 8.5% in after-hours trading, according to Reuters. The figures and targets are the company’s and the business press’s; they are not a recommendation to buy or sell the shares.

The programme, called Pace, moves from four regions to three — the Americas; Asia Pacific and Greater China; and Europe, the Middle East and Africa — and includes a new campus in Bengaluru, India. The company describes it as a long-term investment in capabilities and talent, not an announcement that world headquarters are moving.

Estimated savings are about $2.5 billion through fiscal 2031, before about $1.0 billion of expected pre-tax charges, mainly employee-related, plus about $0.3 billion already recognised in fiscal 2026 for a March plan. Most of the savings are expected in fiscal 2029 and 2030, according to the reports.

Nike said it does not yet know the number and locations of roles to be cut and that employee notifications begin in 2027. This article does not guess a headcount or locate the cuts by country. Further detail on the financial plan is due, the company said, at an investor day in November.

The quarterly results and the reorganisation sit together: sales fell, and Pace is presented as an acceleration of a turnaround already under way, not a one-day strategy. This article records the 1 October announcement, not an independent forecast of China or of market share.

Image: Achim Hepp, Nike Town London (2009), CC BY-SA 2.0, Wikimedia Commons; archive storefront, not the 2026 headquarters.

Source consulted: Nike quarterly sales miss estimates as China weakness, competition weigh — Reuters.