Nike sales stayed flat at $11.28 billion, compared to $11.27 billion last year, CNBC reported.
Shares of the sporting apparel company fell on Tuesday due largely to an expected 20% decline in sales in the Chinese market for the first quarter of 2026.
And Nike expects sales to fall by a single-digit percentage for the overall year.
The company’s reported net income for the three-month period that ended Feb. 28 was $520 million, or 35 cents per share, a 35% decline from $794 million, or 54 cents per share, a year earlier.
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Nike said higher tariffs and the ongoing U.S.-Iran war are all factors in poorer performance.
