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Nike Warns China Sales Drop, Deeper Profit Declines Ahead

By Drooid · Oct 3, 2026, 2:18 AM UTC · How we work

Summary

Story summary

Nike announced another round of job cuts and forecast steeper-than-expected sales and profit declines for FY ending May 2028.
Sales in China fell 26% on a constant-currency basis in Q1, its third-largest market.
Nike will pull online sales rights from major Chinese retail partners starting January, warning a near-term revenue hit.
French star Kylian Mbappé ended his two-decade Nike partnership in September, joining rival On.

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Story summary

Nike announced another round of job cuts and forecast steeper-than-expected sales and profit declines for FY ending May 2028.
Sales in China fell 26% on a constant-currency basis in Q1, its third-largest market.
Nike will pull online sales rights from major Chinese retail partners starting January, warning a near-term revenue hit.
French star Kylian Mbappé ended his two-decade Nike partnership in September, joining rival On.