Nike Direct Fell 7% While Wholesale Grew 5%. The 'Comeback' Is a Channel Story.
Nike reported $11.3 billion in flat Q3 FY2026 revenue on March 31, with Nike Direct down 7% currency-neutral while wholesale grew 5%. The 1,400 April layoffs and $230 million severance charge cut deepest in tech and supply chain, not marketing. The 'comeback' coverage focused on a