$NKE QuantLogix Newsdesk · 10/02/2026, 11:01 AM UTC

Nike Drops 10% on Soft Sales Forecast; Job Cuts Reported

What happened

Nike shares dropped roughly 10% in Friday trading after the company guided to a softer sales path than Wall Street expected. The sneaker maker is preparing job cuts as part of its response to the slower revenue trajectory. CNBC reported the outlook and the workforce reductions in its coverage of the announcement. The stock traded at $35.15, down 10.68% on the session. The company did not provide a recovery timeline in the guidance.

The QL Read

Against a steady tape (VIX 16.02, breadth 51.1% advancing, XLY flat at -0.03%), the decline is company-specific rather than macro-driven. The QuantLogix composite already sat at 21/100 (Underweight) before the print, and today's QL Whale Tape recorded a $1.64M NKE $35 put for October 16 — a print consistent with the bearish guidance reaction.

Source: CNBC — "Nike shares plummet 10% after weak revenue outlook and layoff plans underway" — 2026-10-02T10:00:31.000Z

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