Margins Under Fire: Can NIKE's "Win Now" Actions Bring Long-Term Gains?

Key Takeaways NKE's Q1 results show margin strain despite growth in running, wholesale and spring orders.Gross margin faces major pressure from discounts, product costs and new reciprocal tariffs.Structural challenges in China and softer digital traffic continue to weigh on profitability.NIKE Inc.’s (NKE) first-quarter fiscal 2026 results show a company fighting through margin pressure while doubling down on its transformation agenda. The sportswear giant’s “Win Now” actions, focused on sharpening product i ...