Nike to Record $300 Million Charge From Cost-Cutting Efforts

By Katherine Hamilton

Nike is implementing organizational changes which, together with previous actions, are expected to result in $300 million in pre-tax charges.

The sneaker company said Thursday its management team approved a plan on Feb. 27 which will result in the charges.

The charge is primarily associated with employee severance costs, most of which were recognized in the third quarter of fiscal 2026, Nike said.

Nike said it is continuing to evaluate opportunities to operate more efficiently and profitably by realigning costs. It may take additional actions that could lead to additional charges in future quarters.

Write to Katherine Hamilton at [e-mail]

(END) Dow Jones Newswires

03-05-26 1708ET