NIKE Q3 revenues flat, EPS down 35% to $0.35 as tariffs compress gross margin 130 bps

Filed March 31, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  Q3 revenues $11.3B flat reported, down 3% currency-neutral; wholesale up 1% currency-neutral while NIKE Direct fell 7%, reflecting channel mix shift amid turnaround.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Gross margin compressed 130 bps to 40.2% primarily from higher North America tariffs; diluted EPS $0.35 vs. $0.54 prior year, down 35%.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Converse revenues plunged 35% reported (37% currency-neutral) to $264M with declines across all territories; segment swung to $40M EBIT loss from $39M profit prior year.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →