October 2, 202612 min readNike FY2027 Q1 Earnings: Better Margins, a Weaker Sales OutlookNike's FY2027 Q1 gross margin rose 60 bps to 42.8% as revenue fell 4% to $11.2B and China sank 22%. Trace the $712M profit in a public ledger.Mike Thriftfinancial-reportingfinancial-analysisopen-ledger