Nike Q1 Earnings Preview: Strategic Challenges and Market Expectations

Nike (NKE) faces a pivotal moment as it prepares to report Q1 FY26 earnings amid an 8.4% year-to-date stock decline. Analysts project a steep 61.4% drop in EPS to $0.27 and a 5.2% revenue contraction to $10.99 billion, attributed to innovation gaps, tariff pressures, and fierce competition. The athleticwear giant’s eight-quarter streak of earnings beats hangs in the balance.

Investors will scrutinize management’s progress on the Win Now turnaround strategy, which hinges on high-profile sports sponsorships and product launches. Stifel’s Peter McGoldrick maintains a Hold rating with a $64 target, framing this quarter as a critical juncture for Nike’s recovery narrative. Market sentiment remains cautious as structural challenges overshadow the company’s historical execution prowess.