Nike extends turnaround, cuts jobs as sales fall

· Retail & E-commerce · United States

Nike reported a 4% year-over-year revenue decline and extended its turnaround timeline, with layoffs planned for the new year. Management said significant work remains. Running was one of the few bright spots in an otherwise weak quarter.

Why it matters：Nike's reset signals continued pressure on global sportswear demand and shows how legacy brands are restructuring amid competition from newer running labels.

Key points

  • Revenue fell 4% year over year in the quarter.
  • Job cuts are planned for the new year.
  • Running grew despite competition from Hoka and On.

Sources (original reporting)

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