Fitness & Athleisure Chronicles: NKE 4Q EPS Signals We‘ve Hit the Bottom

Research evidence excerpt

Fitness & Athleisure Chronicles: NKE 4Q EPS Signals We‘ve Hit the Bottom

USA | Lifestyle & Growth Platforms EquityJulyResearch6, 2026

Fitness & Athleisure Chronicles: NKE 4Q EPS

Signals We've Hit the Bottom

Our Fitness & Athleisure Chronicles provide a weekly update on the fitness and

athleisure industries, as we think it is essential to stay informed about all

companies in the space, not just the ones we cover. This week, we highlight:

1) NKE 4Q EPS; 2) NKE Becomes Partners With Women's Bundesliga; 3) NKE

Signs SC Athletes; 4) LTH Self-Funding Inflection; 5) LTH Expands LT Games to

Dallas; and 6) BFIT Expands in Germany.

NKE 4Q EPS: This Is The Bottom…Sport Working, Margins Turning, EPS Flattening Out. NKE's

F'4Q came in ahead with kernels of progress solidifying in the base business. Revs were a touch

better, GM held ex-tariff, inventory was controlled, and SG&A remained disciplined. The China

cleanup is progressing while the performance biz continues to scale. Sportswear and Jordan

Streetwear remain the overhang and will take time, but the core is stabilizing. Net, we are trimming

F'27-28 EPS and lowering our PT to $75. See here for more details.

NKE Becomes the Official Ball Supplier of Germany’s Women’s Bundesliga and Supercup. NKE

has signed an eight-year deal to become the official match ball supplier for Germany’s Women’s

Bundesliga (first and second divisions) and the Women’s Supercup, marking its first league-wide

partnership in the country. NKE will supply its “Nike Control” ball for matches and training, while

also positioning the partnership as part of a broader effort to grow women’s football and expand

its presence in Germany ahead of a wider DFB partnership starting in 2027.

NKE Signs South Carolina Athletes to Blue Ribbon Elite NIL Roster.