Nike's first-quarter revenue fell 4% to $11.2bn, below forecasts, and its shares hit their lowest since 2013. Sales in China fell for a ninth straight quarter as local brands take share. Nike also plans a $2.5bn cost-saving programme called Pace by fiscal 2031, mainly through job cuts. For a Thai SME this is background: it signals softer demand for premium global sportswear and more competition from lower-priced local and Chinese brands, but it does not require a change in pricing, staffing or stock this quarter.