Nike sales rose 1 per cent in the first quarter of 2026 to $11.7 billion, the company announced on Tuesday, beating expectations and marking the first period of growth in five consecutive quarters. It’s a sign that the turnaround strategy laid out by CEO Elliott Hill — appointed to the role one year ago — is paying off. Shares rose 2 per cent in after-hours trading.
“This quarter, Nike drove progress through our Win Now actions in our priority areas of North America, wholesale and running,” Hill said in a statement. North America sales were up 4 per cent, wholesale rose 7 per cent and Nike Running sales grew 20 per cent in the quarter. Sales rebounds are uneven across category, channel and region, however. Direct sales fell 4 per cent in the quarter, while Greater China sales fell 32 per cent. Gross margin decreased to 42.2 percent, thanks to a lower average selling price due to higher discounts, as well as higher tariffs in North America.