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Data source: Nike. All columns are for the fiscal first quarter, ended Aug. 31. As you can see in the table, Nike's revenue and gross margins have flatlined while its earnings are down.
Data source: Nike. Chart by author. Nike expects that slowdown to deepen, with a mid-single-digit drop in its reported revenue in fiscal 2025. Analysts are bracing for a 5% decline.
Three quintessentially American companies — Starbucks, Nike and Boeing — share a common predicament at the moment. ... Its stock is down some 25% this year, and revenue fell 10% last quarter ...
Sales are slower than expected, leading to lower profit margins again.
In the fiscal fourth quarter that ended May 31, Nike's sales fell by 2% year over year to $12.6 billion, led by the floundering direct-to-consumer business, which dropped 8% to $5.1 billion.
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Nike also expects sales to fall in the current fiscal year. There's no doubt that the brand is in trouble and needs some kind of change. A new CEO certainly isn't out of the question.
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