NIKE ($NKE) Q1 revenue falls 4% to $11.2B, launches $1.0B restructuring plan

NIKE reported Q1 revenue of $11.2B, down 4% YoY, with diluted EPS of $0.48. The company announced a multi-year restructuring program called Pace, expecting pre-tax charges of approximately $1.0B through fiscal 2031. NIKE expects the program to deliver about $2.5B in cumulative savings through fiscal 2031.