Financial Data and Key Metrics Changes - For Q2 fiscal 2026, revenues increased by 1% on a reported basis and were flat on a currency-neutral basis, with Nike Direct down 9% and Nike Digital down 14% [36][39] - Gross margins declined by 300 basis points to 40.6% primarily due to increased product costs from higher tariffs and inventory obsolescence in Greater China [37][36] - Earnings per share was reported at $0.53, with inventory decreasing by 3% year-over-year [39][36] Business Line Data and Key Metrics Changes - The performance business saw significant traction, with Running growing over 20% for the second consecutive quarter [21][30] - Classic footwear franchises are projected to decline by more than $4 billion by fiscal year-end [31] - Wholesale grew by 8%, with North America experiencing over 20% growth in wholesale [14][36] Market Data and Key Metrics Changes - North America revenue grew by 9%, with wholesale up 24% and EBIT down 8% [40][39] - EMEA revenue was down 1%, with wholesale flat and EBIT declining by 12% [44] - Greater China revenue declined by 16%, with Nike Direct down 18% and EBIT down 49% [45][46] Company Strategy and Development Direction - The company is focused on right-sizing its Classics business, returning Nike Digital to a premium experience, and diversifying its product portfolio [6][9] - The "Sport Offense" strategy is aimed at driving growth through athlete-centered innovation across various channels and countries [7][9] - The company is committed to improving profitability and operating efficiency while investing in growth initiatives [27][56] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the recovery will not be linear, with different timelines for each brand and geography [34][79] - There is confidence in the long-term potential of the China market, despite current challenges [18][93] - The company expects Q3 revenues to be down low single digits, with modest growth in North America and continued headwinds in Greater China [53][54] Other Important Information - The company is implementing changes in leadership to enhance decision-making and strategy execution [12][27] - Significant investments are being made in marketing and product innovation to support growth [91][100] - The company is focused on cleaning up excess inventory and improving the marketplace experience [49][50] Q&A Session Summary Question: Can you elaborate on the turnarounds and opportunities remaining? - Management highlighted that growth is driven by Win Now Actions and the Sport Offense, with North America showing strong progress and China needing more time [68][70] Question: When will the recovery be more predictable? - Management indicated that each geography and brand is at different stages, making it difficult to provide a specific timeline for recovery [79][80] Question: What is the timeline for returning to double-digit EBIT margins? - Management stated that improving margins is a top priority, with a path back to double-digit EBIT margins expected as growth continues [87][88] Question: How deep is the reset necessary in China? - Management emphasized the need for a fresh approach in China, with ongoing actions to clean up the marketplace and improve brand positioning [96][93]

Financial Data and Key Metrics Changes - Revenues for Q2 were up 1% on a reported basis and flat on a currency-neutral basis, with Nike Direct down 9% and Nike Digital declining 14% [20][22] - Gross margins declined 300 basis points to 40.6% on a reported basis, primarily due to increased product costs from higher tariffs and inventory obsolescence in Greater China [21][19] - Earnings per share was $0.53, with inventory decreasing 3% versus the prior year [22] Business Line Data and Key Metrics Changes - The Nike brand grew this quarter, with 8% wholesale growth and a strong mix, while classic footwear franchises are expected to decline by over $4 billion by fiscal year-end [7][17] - Running grew by over 20% for the second consecutive quarter, with significant growth in Nike-owned stores, Nike Digital, and wholesale [12][24] - Nike's Classics business is being right-sized, and the company is diversifying its product portfolio [5][6] Market Data and Key Metrics Changes - North America saw a revenue growth of 9%, with wholesale growing 24% and EBIT declining 8% [23][22] - Greater China experienced a revenue decline of 16%, with Nike Direct down 18% and wholesale down 15% [26][22] - EMEA revenue was down 1%, with a decline in Nike Direct and Nike Stores, while wholesale was flat [25] Company Strategy and Development Direction - The company is focused on executing its "Win Now Actions" and "Sport Offense" strategies to drive growth through athlete-centered innovation and a diversified product portfolio [5][6] - There is a strong emphasis on reconnecting with partners and enhancing consumer experiences, particularly in North America [8][9] - The company is adapting its approach in Greater China to better fit the local market dynamics and improve brand positioning [10][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the recovery will not be linear, with different brands and geographies recovering at varying speeds [18][45] - There is confidence in the long-term potential of the China market, despite current challenges, and a commitment to returning to a premium brand position [10][54] - The company expects Q3 revenues to be down low single digits, with gross margins projected to decline approximately 175-225 basis points [31] Other Important Information - The company is making significant investments in product innovation, with new launches planned across various sports and categories [12][59] - A leadership change was made to enhance operational efficiency and integrate technology across the company [15][16] Q&A Session Questions and Answers Question: Can you elaborate on the turnarounds and where opportunities remain? - Management highlighted that the path back to sustainable growth is through the Win Now Actions, with North America showing strong momentum and a healthier base for growth [36][38] Question: When will the recovery be more visible and less linear? - Management indicated that each geography and brand is at different stages, making it difficult to provide a specific timeline for recovery [44][45] Question: What is the timeline for returning to double-digit EBIT margins? - Management stated that improving margins is a top priority, with a clear path back to double-digit EBIT margins through growth and operational efficiency [48][50] Question: How deep of a reset is necessary in China? - Management acknowledged the need for a reset in China, focusing on cleaning up the marketplace and enhancing brand presentation [52][54]

Thank you. Sarah Eisen from the New York Stock Exchange on Nike tonight. Um Tim, are we in the middle of the turnaround here.Do you see enough proof. Are you convinced. >> I I think we are.I think if you're building a position in Nike, this is a place to add. There's nothing I heard today that made me concerned about some of the legacy problems. The positives are two consecutive quarters of revenue growth.North America up 8.8%. It's actually a second derivative margin improvement. They're still down, but th ...

Core Viewpoint - The company is experiencing a turnaround with two consecutive quarters of revenue growth, indicating potential for investment despite some legacy issues [1] Financial Performance - North America revenue increased by 8.8%, showing signs of margin improvement, although still down overall [2] - Margin compression is noted, down 300 basis points, attributed to tariffs and discounting pressures [3][4] Strategic Challenges - Direct-to-consumer sales decreased by 9% year-over-year, raising concerns about the company's current strategy [5] - The need for new leadership is emphasized, suggesting that a fresh perspective could drive necessary changes [6][7] Competitive Landscape - The company faces competition from brands like Hoka, which are gaining market share, particularly in casual segments [7] - Innovation is crucial, with new product lines like the Bomero 18 and Pegasus showing promise [8][9] Market Outlook - While North America may be stabilizing, challenges remain, particularly in China, indicating that the company is not yet fully out of difficulties [7]

每经AI快讯，12月19日，耐克股价盘后跌幅扩大至10%。 ...

Core Viewpoint - Nike's stock has seen a decline of over 4% following recent results, raising questions about the impact of China weakness versus wholesale strength on investor sentiment [1] Group 1: Financial Performance - The wholesale segment is highlighted as a significant area of strength for Nike, with a focus on re-engaging with wholesale partners contributing to positive sales growth [2] - North American sales growth has accelerated from the previous quarter, exceeding expectations, indicating successful strategic focus [2] Group 2: Investor Sentiment - There is notable skepticism among investors regarding Nike's turnaround, with many choosing to wait for clearer signs of recovery before investing [3][4] - The current macroeconomic environment is challenging, with consumers feeling financially stretched, which may impact spending on Nike products [5] Group 3: Competitive Landscape - Concerns about competition from smaller brands are present, but there is a belief that these brands have not made significant inroads into wholesale markets [7] - If Nike's turnaround fails, it could create opportunities for smaller brands to gain market share, as Nike has previously focused less on innovation and wholesale [9][10]

Let's get back to Nike. Those shares falling now more than 4% in overtime. Let's bring in Oppenheimer senior analyst Brian Nagel for his reaction to the results.Got an outperform rating. $120 price target on the stock. Brian, which is more important here for investors in these results, the China weakness or the wholesale strength.>> Well, good afternoon, John. Look, I tend to think the wholesale strength. And I and the reason I say that I mean one it's a much bigger business but probably more importantly yo ...

【亚太股市】日经225指数跌超1%，韩国KOSPI指数跌超1.5%，印尼综合指数跌0.68%。 【外汇】衡量美元对六种主要货币的美元指数当天上涨0.06%，在汇市尾市收于98.425。截至纽约汇市 尾市，1欧元兑换1.1725美元，低于前一交易日的1.1745美元；1英镑兑换1.3386美元，高于前一交易日 的1.3378美元。1美元兑换155.52日元，低于前一交易日的155.63日元；1美元兑换0.7940瑞士法郎，低于 前一交易日的0.7953瑞士法郎；1美元兑换1.3781加元，低于前一交易日的1.3789加元；1美元兑换9.2846 瑞典克朗，低于前一交易日的9.2984瑞典克朗。 智通财经APP获悉，周四，三大指数收涨，美国11月核心通胀同比增幅创2021年初以来最低水平，通胀 形势意外出现改善，但经济学家怀疑数据因政府停摆而失真。 美国劳工统计局周四公布的数据显示，11月剔除波动性较大的食品和能源的核心消费者价格指数 （CPI）同比上升2.6%，11月整体CPI同比涨幅为2.7%。然而，几位经济学家指出，作为CPI最大组成部 分之一的住房类价格在两个月内基本持平，使得整个估算遭到质疑。 凯投宏观 ...

Core Viewpoint - Nike's latest quarterly sales exceeded expectations, indicating progress in overcoming operational challenges, but weaknesses in the Chinese market and the Converse brand persist [1] Financial Performance - In the second fiscal quarter, the company's revenue grew by 1% to $12.4 billion, surpassing analysts' average expectations [1] - Earnings per share also exceeded forecasts, although direct-to-consumer sales fell short of expectations [1] Market Reaction - Following the earnings report, Nike's stock dropped by 5% in after-hours trading [1] - The stock has declined by 13% year-to-date and may face its fourth consecutive annual decline [1] Strategic Focus - The company is intensifying its focus on core sports categories and key cities while rebuilding relationships with retail partners to regain growth and investor confidence [1] - Despite regaining some momentum, management faces scrutiny regarding the performance of the Converse brand, which saw a 30% decline in sales during the period, and the Chinese market [1]

耐克盘后大跌近10%，报59.2美元。耐克第二财季营收124.3亿美元，同比增长0.6%，预估122.4亿美 元；第二财季净利润7.92亿美元，同比下降32%；第二财季每股收益0.53美元，同比下降32%。公司毛 利率40.6％，上年同期43.6％，预估40.6％。 ...