NIKE, Inc. (NYSE: NKE) , headquartered near Beaverton, Oregon , reported fiscal Q3 2026 results for the quarter ended February 28, 2026 , with total revenues of $11.3 billion , flat on a reported basis but down 3% on a currency neutral basis.
The quarter reflects a company in active transition, with CEO Elliott Hill accelerating a "Win Now" turnaround strategy that is producing uneven but directionally positive results across the portfolio. Q3 FY2026 Headline Numbers at a Glance Total revenues: $11.3 billion ,
flat reported, down 3% currency neutral NIKE Brand revenues: $11.0 billion , up 1% reported, down 2% currency neutral Wholesale revenues: $6.5 billion , up 5% reported, up 1% currency neutral NIKE Direct revenues: $4.5 billion , down 4% reported, down 7% currency neutral Gross margin: 40.2% , down 130 basis points , primarily due to higher tariffs in North America Net income: $520 million , down 35% Diluted EPS: $0.35 , down 35% Inventories: $7.5 billion , down 1% Cash and equivalents and short term investments: $8.1 billion , down approximately $2.3 billion North America Leads While Greater China and Converse Drag North America was the standout performer, with total revenues of $5.0 billion , up 3% , driven by footwear growth of 6% to $3.3 billion .
EMEA posted revenues of $2.9 billion , up 2% reported but down 7% currency neutral, while Asia Pacific & Latin America came in at $1.5 billion , up 1% reported but down 2% currency neutral.
Greater China remained a pressure point, with revenues of $1.6 billion , down 7% reported and down 10% currency neutral, as declines in footwear and apparel persisted. Converse was the steepest decliner of the quarter, with revenues of $264…
