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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.
As of 10:30 a.m. ET today, Nike stock was down 7%. Nike's unanswered questions Nike just hired Elliott Hill as its new CEO, but he doesn't start for about another two weeks.
In the last year, Nike shares are down more than 36% as the footwear brand lost focus on its products and relationships with distribution partners and now has to contend with the rise of On ...
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.
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.
In 2017, Parker took a 71% pay cut due to a year of poor sales at Nike and the layoff of 1,000 employees. [17] Subsequently, his earnings were $13.9 million from stock and options. [18] In 2019, Parker was criticized by certain right wing media commentators for his embrace of Nike endorser Colin Kaepernick. [19]
The world's largest footwear maker still has a lot to prove.
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