Nike curbs Jordan releases as sales drop to $7 billion

Nike announced plans to reduce the volume and frequency of retro releases under its Jordan brand to restore exclusivity. The company reported on October 1, 2026, that Jordan revenue fell by mid-teens percentages, bringing sales for the fiscal year ended May 31 to just over $7 billion, down from nearly $9 billion two years earlier. Jordan generates approximately 13% of Nike's total revenue.

CEO Elliott Hill said during a conference call that the company offered too many iconic retro products in rapid succession, which pushed items onto discount racks. Nike has already reduced releases for the Air Jordan 1 model as part of this strategy shift.

The company faces broader challenges, including falling sales in China, the loss of soccer star Kylian Mbappé to rival On Holding, and declining revenue at Converse. Nike shares have dropped about 60% over the two years since Hill took over, leading to the stock being removed from the S&P 100 index after nearly two decades.

To address lower quarterly sales and a weak fiscal outlook, Nike announced job cuts and a restructuring plan designed to save $2.5 billion over the next five years. Meanwhile, Nike launched a signature shoe for Caitlin Clark and signed a 10-year deal worth more than $200 million with the University of Miami, while Alexandre Arnault of LVMH joined the board of directors.