Nike stock is falling today. What the footwear brand said that has investors worried about the rest of 2026

Nike is attempting to turn things around, but it could be a long road to success. The athletics company closed out March with the release of its latest earnings. The fiscal 2026 third-quarter report brought mixed progress, leading to a more than 10% drop in shares of Nike Inc (NYSE: NKE) after hours on Tuesday and into premarket on Wednesday. Nike stock was already down more than 16% year to date, compared to a more modest decline of 4.8% for the broader S&P 500 index. The earnings report comes a year and a half into CEO Elliott Hill’s tenure and less than three months after Nike announced it would lay off 775 workers across its U.S. distribution centers. Let’s start with the report’s good news.  Nike beat Wall Street’s expectations for total revenue and earnings per share, according to consensus estimates cited by CNBC. The company reported $11.28 billion in revenue, compared to the predicted $11.24 billion. It also reached earnings per share of 35 cents, up from the expected