Q1 FY27 · Ended Aug 31, 2026 · View SEC filing
Marketing rose as sales fell, and profit held
Overhead fell 6.0%, more than covering the extra marketing, and pre-tax income held at $921M.
For investorsWhat would show the footwear reset is working
For foundersProtecting brand spending when sales shrink
Apparel grew on fewer units because prices rose, while footwear, 64% of sales, lost units and price together.
Operations produced $135M against $712M of net income, as staff pay-outs, a tax payment and inventory absorbed cash.
Keeping 42.8% of each sale after cost of sales lets Nike spend 11.2% of revenue on marketing through a downturn.
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Business Lens describes Nike from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
