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The Economic Times

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Nike stock plunges after shocking earnings report, company plans lay offs

Nike earnings statement shows that the company projected sales in the current fiscal year would fall by high-single digits. Nike reported a two percent drop in quarterly profits to $712 million. Revenues fell four percent to $11.2 billion for the quarter ending August 31, the first quarter of Nike's fiscal 2027.

2 Oct 2026 4:35 am