Nike targets $2.5 billion in savings through fiscal 2031

Nike expects its multi-year Pace program to produce about $2.5 billion in cumulative savings through fiscal 2031, according to a Form 8-K accepted Thursday afternoon.

That is the gross target.

The company expects approximately $1 billion in pre-tax charges, on top of roughly $300 million in severance expense recognized during fiscal 2026. About $300 million of the new charges are expected in fiscal 2027, with the rest running through fiscal 2031.

Nike said most future charges will involve cash expenditures. The savings figure comes before those charges and before any reinvestment, so it is not a forecast of the program's net contribution to profit.