Form 10-K · Annual report
Nike, Inc. 10-K, filed Jul 15, 2026
- Filed
- CIK
- 0000320187
- Accession no.
- 0000320187-26-000088
Summary
Nike reported flat fiscal 2026 revenue of $46.4 billion, a 42.9% gross margin, and $385 million in severance charges, while recognizing a $986 million benefit from IEEPA tariff refunds after the U.S. Supreme Court ruled the tariffs unauthorized. The company said it expects negative impacts from Greater China and Converse to continue through fiscal 2027 as it carries out product, marketplace, and brand management actions.
Key points
- Nike's fiscal 2026 revenues were $46.4 billion, flat on a reported basis and down 2% currency-neutral compared with fiscal 2025.
- NIKE Direct revenues fell to $17.7 billion from $18.8 billion, while NIKE Brand wholesale revenues rose to $27.5 billion from $25.9 billion.
- Gross margin increased 20 basis points to 42.9%, inventories were $7.5 billion, and Nike returned about $2.5 billion to shareholders, primarily through dividends.
- Nike recognized $385 million in employee severance charges and a $986 million benefit from recovery of IEEPA tariffs paid after the Supreme Court ruled the tariffs unauthorized.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 7. MANAGEMENT'S DISCUSSION OVERVIEW NIKE designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and services worldwide. We are the largest seller of athletic footwear and apparel in the world. We sell our products through two distribution channels: NIKE Direct operations, which are comprised of both NIKE-owned retail stores and sales through our digital platforms (also referred to as "NIKE Brand Digital"), and to wholesale accounts, which include a mix of independent distributors, licensees and sales representatives in nearly all countries around the world. …
An excerpt of the text as filed with the SEC, cut for length.
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