AUSTIN, TEXAS - JULY 24: The Nike logo is displayed at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: A person shops for Nike shoes at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: The Nike logo is displayed at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: A person shops for Nike shoes at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: The Nike logo is displayed at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: A person shops for Nike shoes at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: A Nike shoe sits on display at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)

AUSTIN, TEXAS - JULY 24: The Nike logo is displayed at the Nike Factory store on July 24, 2026 in Austin, Texas. Nike is closing stores as part of an ongoing restructuring and updated business strategy announced in April. As part of the effort, the company plans to reduce its workforce by approximately 1,400 employees. (Photo by Brandon Bell/Getty Images)