S&P Dow Jones Indices announced on 4 September 2026 that Nike would leave the S&P 100 before the US market open on Monday, 21 September 2026. Nike had been a member of the index since December 2008, a run of nearly 18 years. Nike keeps its place in the broader S&P 500, which tracks a wider set of large United States companies; the S&P 100 is a narrower subset of the 100 largest of those companies by market value.
The change is part of a quarterly rebalance that also saw Colgate-Palmolive, Simon Property Group and Honeywell Aerospace exit the index. All four departing companies are being replaced by Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk, each from the information technology sector.
Nike's fiscal 2026 revenue reached $46.4 billion, flat on a reported basis and down 2% on a currency-neutral basis. Gross margin was 42.9%, up 20 basis points. Net income was $3.1 billion, down 3%, and diluted earnings per share were $2.10, down 3%. In the fourth quarter, revenue was $11.0 billion, down 1% on a reported basis and down 4% on a currency-neutral basis, while gross margin rose to 49.2% and net income rose to $1.1 billion — both figures include roughly 900 basis points of gross margin and $0.52 of diluted earnings per share tied to the recovery of tariff-related costs.
By channel, wholesale revenue rose 6% to $27.5 billion for the full year, while Nike Direct — nike.com and Nike's owned stores — fell 6% to $17.7 billion. This reflects a shift back toward wholesale partnerships after several years in which Nike reduced its wholesale accounts in favor of direct-to-consumer channels.
Nike's digital sales fell for a tenth consecutive quarter in the fourth quarter of fiscal 2026, down 12% year on year, with declines across all four of Nike's reporting regions. CEO Elliott Hill said the company is discounting less through its digital channels, pointing to a strategic choice to protect margin over driving volume.
Elliott Hill, a Nike veteran of more than three decades who spent most of his career on the commercial side building relationships with retailers and sports organizations, returned to Nike as President and Chief Executive Officer in October 2024. His "Win Now" plan concentrates the company's resources on core sports, key products and wholesale relationships, prioritizing North America, wholesale and running as its first areas of focus.
Alongside Win Now, Nike introduced "Sport Offense," an operating-model change that moved thousands of staff into teams organized around individual sports rather than by product category. Hill has described Win Now as the strategy's foundation and Sport Offense as the reorganization built to execute it.
In its fiscal 2026 results, Nike said growth in North America was offset by declines in Greater China and Europe, Middle East and Africa — the geographic pattern that Win Now's initial priorities of North America, wholesale and running are intended to address first.
On 23 April 2026, Nike said it would eliminate approximately 1,400 roles, primarily in its technology organization, as part of a restructuring intended to simplify the company's structure and speed up product creation under the Win Now plan. The affected roles spanned North America, Asia and Europe and represented less than 2% of Nike's global workforce.
It was Nike's second round of job reductions in 2026, following approximately 775 roles eliminated in January. The April changes also included modernizing Nike's Air manufacturing operations, moving some Converse footwear operations, and integrating materials supply chain work into Nike's existing footwear and apparel supply chain teams.