Core Viewpoint - Nike's stock dropped over 10% in pre-market trading following the release of its Q2 fiscal year 2026 earnings report, which showed mixed results with a slight revenue increase but a significant decline in net profit [1] Financial Performance - For the second quarter ending November 30, 2025, Nike reported revenue of $12.4 billion, reflecting a year-over-year growth of 1% on a reported basis, and flat growth when excluding currency effects, surpassing market expectations [1] - Net profit fell to $800 million, a decrease of 32% compared to the previous year, with earnings per share at $0.53, down from $0.78 year-over-year [1] Market Performance - North America showed strong performance with a revenue increase of 9% year-over-year, driven by a 24% surge in wholesale business, which was a key contributor to overall performance [1] - In contrast, the Greater China region faced recovery challenges, with revenue declining by 17% year-over-year, including a 36% drop in digital business and a 15% decrease in wholesale business, leading to a 49% decline in EBIT [1]

Core Viewpoint - Nike's stock dropped over 10% in pre-market trading following the release of its Q2 fiscal year 2026 earnings report, which showed mixed results despite revenue exceeding market expectations [1] Group 1: Financial Performance - For the second quarter ending November 30, 2025, Nike reported revenue of $12.4 billion, a year-over-year increase of 1% on a reported basis, and flat when excluding currency effects, surpassing market expectations [1] - Net income fell to $800 million, a 32% decline compared to the previous year, with earnings per share at $0.53, down from $0.78 year-over-year [1] Group 2: Market Performance - North America showed strong performance with a 9% year-over-year revenue increase, driven by a 24% surge in wholesale business, which was a key contributor to overall performance [1] - The Greater China region faced recovery challenges, with revenue declining 17% year-over-year, including a 36% drop in digital business and a 15% decrease in wholesale business, leading to a 49% decline in EBIT [1]

Core Insights - NIKE Inc. reported second-quarter fiscal 2026 results with revenues of $12.43 billion, a 1% year-over-year increase, and earnings per share (EPS) of 53 cents, a 32% decline from the previous year, but above the Zacks Consensus Estimate [1][2][9] Financial Performance - EPS of 53 cents fell 32% year-over-year but exceeded the Zacks Consensus Estimate of 37 cents [2] - Revenues improved 1% year-over-year to $12.43 billion, surpassing the consensus estimate of $12.14 billion [2] - NIKE Direct revenues decreased 8% to $4.6 billion, driven by a 14% drop in NIKE Brand Digital and a 3% decline in NIKE-owned stores [3] - Wholesale revenues increased 8% to $7.5 billion, primarily due to growth in North America [3] Regional Performance - North America revenues rose 9% year-over-year to $5.63 billion, despite a 10% decline in NIKE Direct [7] - EMEA revenues increased 3% year-over-year to $3.39 billion, but were flat on a currency-neutral basis [8] - Greater China revenues plummeted 17% year-over-year to $1.42 billion, with NIKE Digital down 36% [9] - APLA revenues decreased 4% year-over-year to $1.67 billion [10] Cost and Margin Analysis - Gross profit fell 6.3% year-over-year to $5.05 billion, with gross margin contracting 300 basis points to 40.6% due to higher product costs and inventory obsolescence [11] - Selling and administrative expenses rose 1% to $4.04 billion, while demand creation expenses increased 13% to $1.27 billion [12][13] Balance Sheet and Shareholder Returns - Cash and cash equivalents stood at $7 billion, down nearly 13% year-over-year, with short-term investments totaling $1.37 billion [14] - Inventories totaled $7.7 billion, down 3% year-over-year, and the company returned $598 million to shareholders in the fiscal second quarter [15] Future Outlook - Management projects Q3 revenues to decline low single digits, with modest growth in North America [16] - Anticipated gross margin decrease of 175-225 basis points, with SG&A expenses expected to rise in low single digits [17]

与北美市场的强势形成对比的是，大中华区仍面临复苏挑战。当季大中华区营收同比下降17%，其中数 字业务下滑36%，批发业务下降15%，EBIT（息税前利润）降幅达49%。 耐克方面表示，受门店客流量下降、库存老化及数字渠道折价销售等因素影响，品牌高端定位受到一定 冲击。为扭转局面，公司已在北京、上海等核心城市推进门店试点改革，聚焦体育创新产品展示，并 在"双十一"期间主动减少促销活动，同时加速清理老化库存，耐克自有库存单位数量已同比下降20%。 Elliott Hill强调，大中华区仍是全球最具潜力的体育市场，公司将进一步适配本地市场特征，优化单品 牌运营模式与数字生态布局。 产品创新与战略调整成为本次财报的重要亮点。耐克在本季度正式推进"体育攻势"（Sport Offense）战 略，通过鞋履、服装、装备全品类创新驱动增长。即将于2026年推出的新品中，包括跑步系列Structure Plus、冬奥会首发的Therma-FitAir Milano保暖夹克，以及应用Aero-fit透气技术的国家队队服等。足球品 类方面，世界杯相关产品订单量较2022年增长近40%，公司计划升级全球逾1500家门店以支持销售。此 ...

Group 1 - Nike Inc. reported second-quarter revenue of $12.43 billion, exceeding analyst estimates of $12.22 billion, and earnings of 53 cents per share, surpassing expectations of 38 cents per share [1] - The company experienced a decline in gross margins for the second consecutive quarter [1] - CEO Elliott Hill stated that Nike is making progress in its comeback strategy and is confident in its long-term growth and profitability actions [2] Group 2 - Following the earnings announcement, Nike shares fell by 11.8% to $57.90 in pre-market trading [2] - Analysts adjusted their price targets for Nike, with Telsey Advisory Group lowering it from $75 to $72, Needham from $78 to $68, Piper Sandler from $84 to $75, B of A Securities from $84 to $73, and Bernstein from $90 to $85 [3]

Stocks look set toclose out a choppy week on a steady note, building on Thursday’s gains, spurred by cooler inflation that backs the case for lower borrowing costs. As of 8:00am, S&P 500 futures were 0.1% higher while Nasdaq 100 contracts were up 0.2% after the WSJ reported that OpenAI is set to raise $100BN in fresh capital (from sov wealth funds) removing near-term funding pressures across the AI sector. In premarket trading Oracle is up 6%, off session highs, with the rest of the Mag 7 complex mostly hig ...

Group 1 - U.S. stock futures were mostly higher, with Nasdaq 100 futures gaining around 100 points [1] - BlackBerry reported third-quarter revenue of $141.8 million, exceeding analyst estimates of $137.4 million [2] - BlackBerry's adjusted earnings were 5 cents per share, beating estimates of 4 cents per share [2] Group 2 - BlackBerry's total revenue decreased approximately 1% year-over-year, while QNX revenue grew by 10% [2] - BlackBerry shares fell 4.6% to $4.13 in pre-market trading [2] - Aimei Health Technology Co Ltd shares dropped 15.8% to $44.00 after a significant increase the previous day [3] - Nike Inc shares decreased 9.9% to $59.11 despite better-than-expected earnings and sales, due to a decline in gross margins [3] - FedEx Corp shares fell 2.2% to $281.00, despite posting strong financial results and raising FY2026 guidance [3]

Group 1: Market Overview - Wall Street is expected to experience significant volatility due to "quadruple witching" day, with options on various securities expiring, marking a record $7.1 trillion in notional options exposure [1][5] - The S&P 500 and Dow Jones Industrial Average recently ended a four-day losing streak, but are down approximately 0.8% and 1% respectively for the week [5] Group 2: Nike's Performance - Nike anticipates a low single-digit percentage decline in fiscal third-quarter revenue, with modest growth in North America, and expects gross margins to shrink by 1.75 to 2.25 percentage points, impacted by tariffs [2][3] - Despite challenges in China, strong sales in North America helped Nike's results exceed Wall Street expectations, with CEO Elliott Hill describing it as the "middle inning of our comeback" [4] Group 3: Cannabis Policy Changes - President Trump signed an executive order to reclassify marijuana from Schedule I to Schedule III, which could lead to increased competition in the cannabis market, causing shares of cannabis companies to decline [6] Group 4: College Sports Valuation - The University of Texas at Austin has become the most valuable college sports program, valued at $1.48 billion, a 16% increase from the previous year, generating $332 million in revenue for fiscal 2024, which is 23% higher than the previous year [9][10] - Ohio State University, previously the most valuable program, is now valued at $1.35 billion, a 2% increase from last year [10]

Good morning. So, you just lowered your price target after this earnings, but you kept an overweight rating. Explain the rationale there.Lowering the price target, but keeping the rating. >> Uh yeah. No, good morning and uh thanks for having me.Great to be here. Uh listen, quoting, you know, Elliot Hill himself, uh this is not a turnaround that's linear, you know, by any means. uh they never are, you know, especially in a competitive consumer space and especially in this athletic space uh which is an extrem ...

Core Viewpoint - The company has lowered its price target but maintains an overweight rating, indicating a belief in long-term potential despite current challenges [1] North America Business - The North America segment is showing growth year-over-year, with strength in wholesale despite challenges in direct-to-consumer (DTC) channels [3][6] - New distribution partnerships, including with Amazon, are contributing positively to the North American business [7] Competitive Landscape - The company faces competition from brands like Hoka and On, which are gaining market share, particularly in the running specialty channel [4][5] - Hoka is seen as a significant competitor, while On is perceived to target a different consumer segment [5] China Business - The China segment has experienced a decline of 17% over six consecutive quarters, attributed to factors such as excessive promotions and lack of new products [7][9] - The wholesale channel in China is particularly challenged, with a large number of partners complicating turnaround efforts [10] Tariff Impact - The company is facing a $1.5 billion hit from tariffs, which is expected to affect gross margins by approximately 350 basis points in fiscal Q3 [11][12] - The net impact on margins for the year is estimated to be around 120 basis points, with the company working to mitigate these effects through selective price increases [12][13]