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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.
Nike shares were down 1.5% as of Friday morning and have also lost more than half of its value since November 2021 while struggling to match new rivals in the footwear game, Reuters reported. "We ...
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.
The drop was especially steep in the US, where sales fell 10%; and in China, where they were down 14%. Basically, demand hasn’t been this low since the first year of the pandemic.
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.
The Nike Worldwide Headquarters is the global headquarters for Nike, Inc., located in an unincorporated area of Washington County near Beaverton, Oregon, in the United States. The campus has more than 75 buildings on 286 acres, as of 2018.
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.