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Nike is trying to feel like Nike again—and investors are watching the reset

Nike is trying to feel like Nike again—and investors are watching the reset

KAHROS Team

TL;DR

Quick Summary

  • Nike’s latest reported quarter (fiscal 2026 Q2, reported December 18, 2025) showed $12.4B revenue and a clear split: wholesale up, NIKE Direct down.
  • Converse is reportedly reorganizing and preparing job cuts, a reminder Nike’s cleanup is happening brand-by-brand.
  • Nike is also navigating an EEOC subpoena enforcement action tied to alleged discrimination against white workers, adding headline risk in 2026.

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Nike’s 2026 reset: wholesale comeback, direct slump, and real risks | KAHROS