US Stock Market Move | NIKE, Inc. Class B (NKE.US) plunged more than 14%. Sales in the Greater China region for the fourth quarter are expected to decline by 20%.

On Wednesday, NIKE, Inc. Class B(NKE.US) plummeted by over 14%, closing at $45.27. The financial report for the third quarter of the 2026 fiscal year released by NIKE, Inc. Class B showed that the company's quarterly revenue was $11.3 billion, staying flat compared to the same period last year (a 3% decrease when calculated based on fixed exchange rates), which exceeded market expectations. Net profit was $520 million, a 35% decrease compared to the previous year. The gross profit margin shrank for the sixth consecutive quarter, dropping by 130 basis points to 40.2%, mainly influenced by the rise in North American tariffs. The company's weak forecast for the fourth quarter performance, especially the pessimistic predictions for the Greater China market, has raised widespread concerns among investors. Matthew Friend, the Chief Financial Officer of NIKE, Inc. Class B, stated that the total revenue of the company is expected to decrease by 2% to 4% starting from March in the fourth fiscal quarter. Sales in the Greater China region are forecasted to see a significant year-on-year decline of about 20%, mainly due to the order adjustments mentioned in the previous quarter and accelerated market clearance, which are considered key factors dragging down overall performance expectations.