# EDGAR Filing Document

**Accession Number:** 0000320187
**File Stem:** 0000320187-26-000026
**Filing Date:** 2026-3
**Character Count:** 47151
**Document Hash:** 181144ae7f6d5a27ae764ca4699cbf0b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000320187-26-000026.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0000320187-26-000026

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260331

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NIKE, Inc.
- **CENTRAL INDEX KEY:** 0000320187
- **STANDARD INDUSTRIAL CLASSIFICATION:** RUBBER & PLASTICS FOOTWEAR [3021]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 930584541
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10635
- **FILM NUMBER:** 26822033

**BUSINESS ADDRESS:**
- **STREET 1:** ONE BOWERMAN DR
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97005-6453
- **BUSINESS PHONE:** 5036713173

**MAIL ADDRESS:**
- **STREET 1:** ONE BOWERMAN DR
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97005-6453

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NIKE INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? nke-20260331

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

March 31, 2026

Date of Report (date of earliest event reported)

![orangeswoosh17.jpg](nke-20260331_g1.jpg)

**NIKE, Inc.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Oregon** | **1-10635** | **93-0584541** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

**ONE BOWERMAN DRIVE** 

**BEAVERTON, OR 97005-6453** 

(Address of principal executive offices and zip code)

**(503) 671-6453** 

Registrant's telephone number, including area code

NO CHANGE

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Class B Common Stock** | **NKE** | **New York Stock Exchange** |
| (Title of each class) | (Trading Symbol) | (Name of each exchange on which registered) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

------

**<u>Item 2.02 Results of Operations and Financial Condition</u>**

Today NIKE, Inc. issued a press release disclosing financial results for the fiscal quarter ended February 28, 2026. The text of the release is furnished herewith as Exhibit 99.1.

**<u>Item 9.01 Financial Statements and Exhibits</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

The following exhibits are furnished with this Form 8-K:

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Exhibit</u>** |
| 99.1 | [NIKE, Inc. Press Release dated](q3fy26exhibit991er.htm) March 31, 2026 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| **NIKE, Inc.<br>(Registrant)** | **NIKE, Inc.<br>(Registrant)** | **NIKE, Inc.<br>(Registrant)** | **NIKE, Inc.<br>(Registrant)** |
| Date: | March 31, 2026  | By: | /s/ Matthew Friend |
|  |  |  | Matthew Friend |
|  |  |  | Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

![blackswoosh401era.jpg](blackswoosh401era.jpg)

---

| | |
|:---|:---|
| <u>Investor Contact:</u> | <u>Media Contact:</u> |
| Paul Trussell | Sandra Carreon-John |
| investor.relations@nike.com | media.relations@nike.com |

---

**NIKE, INC. REPORTS FISCAL 2026 THIRD QUARTER RESULTS**

**BEAVERTON, Ore., Mar. 31, 2026** — NIKE, Inc. (NYSE:NKE) today reported fiscal 2026 financial results for its third quarter ended February 28, 2026.

• Third quarter revenues were $11.3 billion, flat on a reported basis and down 3 percent on a currency-neutral basis\*

• Wholesale revenues were $6.5 billion, up 5 percent on a reported basis and up 1 percent on a currency-neutral basis

• NIKE Direct revenues were $4.5 billion, down 4 percent on a reported basis and down 7 percent on a currency-neutral basis

• Gross margin decreased 130 basis points to 40.2 percent

• Diluted earnings per share was $0.35

"This quarter we took meaningful actions to improve the health and quality of our business. The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum," said Elliott Hill, President and Chief Executive Officer, NIKE, Inc. "The work is not finished, but the direction is clear, our teams are moving with focus and urgency, and our foundation is getting even stronger to build the future of NIKE."

"We delivered third quarter results in line with our expectations, and our teams continue to execute with discipline," said Matthew Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. "Win Now actions will continue to impact results over the balance of the calendar year, and we remain confident in our ability to position the Company for profitable growth long-term."

**Third Quarter Income Statement Review**

• ***Revenues*** for NIKE, Inc. were $11.3 billion, flat on a reported basis and down 3 percent on a currency-neutral basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ NIKE Brand revenues were $11.0 billion, up 1 percent on a reported basis and down 2 percent on a currency-neutral basis, primarily due to declines in EMEA and Greater China, partially offset by growth in North America.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Wholesale revenues were $6.5 billion, up 5 percent on a reported basis and up 1 percent on a currency-neutral basis, primarily due to growth in North America.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ NIKE Direct revenues were $4.5 billion, down 4 percent on a reported basis and down 7 percent on a currency-neutral basis, due to a 9 percent decrease in NIKE Brand Digital and a 5 percent decrease in NIKE-owned stores.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Revenues for Converse were $264 million, down 35 percent on a reported basis and down 37 percent on a currency-neutral basis, due to declines across all territories.

• ***Gross margin*** decreased 130 basis points to 40.2 percent, primarily due to higher tariffs in North America.

• ***Selling and administrative expense*** increased 2 percent to $4.0 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Demand creation expense was $1.1 billion, flat compared to the prior year, as higher sports marketing expense and unfavorable changes in foreign currency exchange rates were offset by lower brand marketing expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Operating overhead expense was $2.9 billion, up 3 percent, due to employee severance costs and unfavorable changes in foreign currency exchange rates, partially offset by lower other administrative costs.

• The ***effective tax rate*** was 20.0 percent compared to 5.9 percent for the same period last year, primarily due to a prior period one-time, non-cash deferred tax benefit provided by U.S. tax regulations related to foreign currency gains and losses.

• ***Net income*** was $0.5 billion, down 35 percent, and ***Diluted earnings per share*** was $0.35, a decrease of 35 percent.

**February 28, 2026 Balance Sheet Review**

*•* ***Inventories*** for NIKE, Inc. were $7.5 billion, down 1 percent, primarily reflecting a decrease in units and product mix shifts, partially offset by increased product costs, primarily due to higher tariffs in North America.

• ***Cash and equivalents and short-term investments*** were $8.1 billion, down approximately $2.3 billion, as cash generated by operations was more than offset by cash dividends, bond repayment, capital expenditures and share repurchases.

**Shareholder Returns**

NIKE has a strong track record of returns to shareholders, including 24 consecutive years of increasing dividend payouts. In the third quarter, the Company returned approximately $609 million to shareholders through dividends, up 3 percent from the prior year.

**Conference Call** 

NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on March 31, 2026, to review fiscal third quarter results. The conference call will be broadcast live via the Internet and can be accessed at https://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through approximately 9:00 p.m. PT, April 23, 2026.

**About NIKE, Inc.**

NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.'s earnings releases and other financial information are available on the Internet at https://investors.nike.com. Individuals can also visit https://news.nike.com and follow @NIKE.

**Forward-Looking Statements**

This press release contains forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K.

\* *Non-GAAP financial measure. See additional information in the accompanying Divisional Revenues table.*

(Tables Follow)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** | **CONSOLIDATED STATEMENTS OF INCOME** |
| *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* |
|  | **THREE MONTHS ENDED** | **THREE MONTHS ENDED** | **%** | **NINE MONTHS ENDED** | **NINE MONTHS ENDED** | **%** |
| *(In millions, except per share data)* | **2/28/2026** | **2/28/2025** | **Change** | **2/28/2026** | **2/28/2025** | **Change** |
| Revenues | $11279 | $11269 | 0% | $35426 | $35212 | 1% |
| Cost of sales | 6749 | 6594 | 2% | 20908 | 19891 | 5% |
| Gross profit | 4530 | 4675 | -3% | 14518 | 15321 | -5% |
| &nbsp;&nbsp;&nbsp;*Gross margin* | *40.2 %* | *41.5 %* |  | *41.0 %* | *43.5 %* |  |
| Demand creation expense | 1090 | 1088 | 0% | 3551 | 3436 | 3% |
| Operating overhead expense | 2887 | 2799 | 3% | 8481 | 8504 | 0% |
| Total selling and administrative expense | 3977 | 3887 | 2% | 12032 | 11940 | 1% |
| &nbsp;&nbsp;&nbsp;*% of revenues* | *35.3 %* | *34.5 %* |  | *34.0 %* | *33.9 %* |  |
| Interest (income) expense, net | (15) | (18) |  | (42) | (85) |  |
| Other (income) expense, net | (82) | (38) |  | (43) | (101) |  |
| Income before income taxes | 650 | 844 | -23% | 2571 | 3567 | -28% |
| Income tax expense | 130 | 50 | 160% | 532 | 559 | -5% |
| &nbsp;&nbsp;&nbsp;*Effective tax rate* | *20.0 %* | *5.9 %* |  | *20.7 %* | *15.7 %* |  |
| **NET INCOME** | $**520** | $**794** | **-35%** | $**2039** | $**3008** | **-32%** |
| Earnings per common share: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.35 | $0.54 | -35% | $1.38 | $2.02 | -32% |
| &nbsp;&nbsp;&nbsp;Diluted | $0.35 | $0.54 | -35% | $1.38 | $2.02 | -32% |
| Weighted average common shares outstanding: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 1480.5 | 1478.1 |  | 1478.9 | 1487.6 |  |
| &nbsp;&nbsp;&nbsp;Diluted | 1481.6 | 1480.6 |  | 1480.4 | 1491.0 |  |
| Dividends declared per common share | $0.410 | $0.400 |  | $1.220 | $1.170 |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** |
| *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* |
|  | **February 28,** | **February 28,** | **% Change** |
| *(Dollars in millions)* | **2026** | **2025** | **% Change** |
| ASSETS |  |  |  |
| Current assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and equivalents | $6660 | $8601 | -23% |
| &nbsp;&nbsp;&nbsp;Short-term investments | 1397 | 1792 | -22% |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 5369 | 4491 | 20% |
| &nbsp;&nbsp;&nbsp;Inventories | 7487 | 7539 | -1% |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 2271 | 2186 | 4% |
| Total current assets | 23184 | 24609 | -6% |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 4766 | 4717 | 1% |
| &nbsp;&nbsp;&nbsp;Operating lease right-of-use assets, net | 2886 | 2614 | 10% |
| &nbsp;&nbsp;&nbsp;Identifiable intangible assets, net | 259 | 259 | 0% |
| &nbsp;&nbsp;&nbsp;Goodwill | 240 | 239 | 0% |
| &nbsp;&nbsp;&nbsp;Deferred income taxes and other assets | 5729 | 5355 | 7% |
| **TOTAL ASSETS** | $**37064** | $**37793** | **-2%** |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |
| Current liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt | $999 | $1000 | 0% |
| &nbsp;&nbsp;&nbsp;Notes payable |  | 4 | -100% |
| &nbsp;&nbsp;&nbsp;Accounts payable | 2888 | 3106 | -7% |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 493 | 474 | 4% |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 6183 | 5905 | 5% |
| &nbsp;&nbsp;&nbsp;Income taxes payable | 275 | 734 | -63% |
| Total current liabilities | 10838 | 11223 | -3% |
| &nbsp;&nbsp;&nbsp;Long-term debt | 7030 | 7956 | -12% |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | 2656 | 2477 | 7% |
| &nbsp;&nbsp;&nbsp;Deferred income taxes and other liabilities | 2450 | 2130 | 15% |
| &nbsp;&nbsp;&nbsp;Redeemable preferred stock |  |  |  |
| &nbsp;&nbsp;&nbsp;Shareholders' equity | 14090 | 14007 | 1% |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | $**37064** | $**37793** | **-2%** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** | **DIVISIONAL REVENUES** |
| *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* |
|  |  |  |  | **% Change Excluding Currency Changes**<sup>1</sup> |  |  |  | **% Change Excluding Currency Changes**<sup>1</sup> |
|  | **THREE MONTHS ENDED** | **THREE MONTHS ENDED** | **%** | **% Change Excluding Currency Changes**<sup>1</sup> | **NINE MONTHS ENDED** | **NINE MONTHS ENDED** | **%** | **% Change Excluding Currency Changes**<sup>1</sup> |
| *(Dollars in millions)* | **2/28/2026** | **2/28/2025** | **Change** | **% Change Excluding Currency Changes**<sup>1</sup> | **2/28/2026** | **2/28/2025** | **Change** | **% Change Excluding Currency Changes**<sup>1</sup> |
| **North America** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Footwear | $3326 | $3132 | 6% | 6% | $10087 | $9580 | 5% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apparel | 1480 | 1510 | -2% | -2% | 4765 | 4534 | 5% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 220 | 222 | -1% | -1% | 827 | 755 | 10% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 5026 | 4864 | 3% | 3% | 15679 | 14869 | 5% | 5% |
| **Europe, Middle East & Africa** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Footwear | 1789 | 1742 | 3% | -7% | 5822 | 5676 | 3% | -3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apparel | 926 | 913 | 1% | -8% | 3228 | 3042 | 6% | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 159 | 156 | 2% | -8% | 547 | 539 | 1% | -5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 2874 | 2811 | 2% | -7% | 9597 | 9257 | 4% | -2% |
| **Greater China** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Footwear | 1187 | 1282 | -7% | -10% | 3250 | 3731 | -13% | -14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apparel | 397 | 412 | -4% | -7% | 1201 | 1244 | -3% | -5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 31 | 39 | -21% | -22% | 99 | 135 | -27% | -27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 1615 | 1733 | -7% | -10% | 4550 | 5110 | -11% | -12% |
| **Asia Pacific & Latin America** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Footwear | 1051 | 1052 | 0% | -3% | 3263 | 3338 | -2% | -3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apparel | 381 | 358 | 6% | 4% | 1209 | 1143 | 6% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 58 | 60 | -3% | -7% | 175 | 195 | -10% | -11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 1490 | 1470 | 1% | -2% | 4647 | 4676 | -1% | -2% |
| **Global Brand Divisions**<sup>2</sup> | 7 | 12 | -42% | -37% | 25 | 39 | -36% | -34% |
| **TOTAL NIKE BRAND** | **11012** | **10890** | **1%** | **-2%** | **34498** | **33951** | **2%** | **0%** |
| Converse | 264 | 405 | -35% | -37% | 930 | 1335 | -30% | -32% |
| Corporate<sup>3</sup> | 3 | (26) |  |  | (2) | (74) |  |  |
| **TOTAL NIKE, INC. REVENUES** | $**11279** | $**11269** | **0%** | **-3%** | $**35426** | $**35212** | **1%** | **-1%** |
| **TOTAL NIKE BRAND** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Footwear | $7353 | $7208 | 2% | -1% | $22422 | $22325 | 0% | -1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apparel | 3184 | 3193 | 0% | -4% | 10403 | 9963 | 4% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment | 468 | 477 | -2% | -6% | 1648 | 1624 | 1% | -1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Brand Divisions<sup>2</sup> | 7 | 12 | -42% | -37% | 25 | 39 | -36% | -34% |
| **TOTAL NIKE BRAND REVENUES** | $**11012** | $**10890** | **1%** | **-2%** | $**34498** | $**33951** | **2%** | **0%** |
| <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. | <sup>1</sup> The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company's performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. |
| <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. |
| <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. | <sup>3</sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program. |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> | **EARNINGS BEFORE INTEREST AND TAXES ("EBIT")**<sup>1</sup> |
| *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* | *(Unaudited)* |
|  | **THREE MONTHS ENDED** | **THREE MONTHS ENDED** | **%** | **NINE MONTHS ENDED** | **NINE MONTHS ENDED** | **%** |
| *(Dollars in millions)* | **2/28/2026** | **2/28/2025** | **Change** | **2/28/2026** | **2/28/2025** | **Change** |
| North America | $981 | $1103 | -11% | $3376 | $3690 | -9% |
| Europe, Middle East & Africa | 515 | 480 | 7% | 1983 | 2103 | -6% |
| Greater China | 467 | 421 | 11% | 1035 | 1298 | -20% |
| Asia Pacific & Latin America | 332 | 346 | -4% | 1071 | 1208 | -11% |
| Global Brand Divisions<sup>2</sup> | (1209) | (1093) | -11% | (3473) | (3453) | -1% |
| **TOTAL NIKE BRAND EBIT**<sup>1</sup> | **1086** | **1257** | **-14%** | **3992** | **4846** | **-18%** |
| Converse | (40) | 39 | -203% | (5) | 213 | -102% |
| Corporate<sup>3</sup> | (411) | (470) | 13% | (1458) | (1577) | 8% |
| **TOTAL NIKE, INC. EBIT**<sup>1</sup> | **635** | **826** | **-23%** | **2529** | **3482** | **-27%** |
| Interest (income) expense, net | (15) | (18) |  | (42) | (85) |  |
| Income tax expense | 130 | 50 | 160% | 532 | 559 | -5% |
| **NET INCOME** | $**520** | $**794** | **-35%** | $**2039** | $**3008** | **-32%** |
| Total NIKE, Inc. Revenues | $11279 | $11269 | 0% | $35426 | $35212 | 1% |
| &nbsp;&nbsp;*Net income margin* | *4.6 %* | *7.0 %* |  | *5.8 %* | *8.5 %* |  |
| &nbsp;&nbsp;*EBIT margin*<sup>1</sup> | *5.6 %* | *7.3 %* |  | *7.1 %* | *9.9 %* |  |
| <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. | <sup>1</sup> Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. EBIT is calculated as Net income before Interest (income) expense, net and Income tax expense. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies. Management uses these non-GAAP financial measures when evaluating the Company's performance, including segment performance, when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company's underlying business performance and trends. |
| <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. | <sup>2</sup> Global Brand Divisions primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. |
| <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | <sup>3</sup> Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. |

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