Nike (NKE -1.36%) stock jumped 16% on Friday following its fiscal fourth-quarter earnings report the night before. That move would be the biggest one-day percentage gain for the stock in several years.Nike has been in a downward spiral since its peak in 2021 as a strategic shift toward the direct-to-consumer channel under former CEO John Donahoe flopped. However, after offering guidance for the first quarter of the new fiscal year that topped expectations, management seemed to give investors a ray of hope f ...

Financial Data and Key Metrics Changes - For Q4, revenues decreased by 12% on a reported basis and 11% on a currency-neutral basis [28] - Gross margins declined by 440 basis points to 40.3% due to higher wholesale discounts and supply chain cost deleverage [28] - Earnings per share was $0.14, with full-year revenue down 10% on a reported basis [29] Business Line Data and Key Metrics Changes - Nike Direct revenues were down 14%, with Nike Digital declining 26% and Nike Stores increasing by 2% [28] - In North America, Q4 revenue declined 11%, with Nike Direct down 14% and wholesale down 8% [31] - In EMEA, Q4 revenue declined 10%, with Nike Direct down 19% and wholesale down 4% [33] - Greater China saw a 20% revenue decline, with Nike Direct down 15% and wholesale down 24% [35] Market Data and Key Metrics Changes - North America made progress in cleaning up the marketplace, with a focus on repositioning Nike Digital as a full-price model [31] - EMEA demonstrated growth in key performance dimensions, with women's sportswear footwear returning to growth [34] - APLA experienced a 3% revenue decline, with mixed results across countries [38] Company Strategy and Development Direction - The company is implementing "WinNow" actions to reposition its brands and business for future growth, focusing on sport and innovation [26][27] - A new partnership with Amazon will feature a select assortment of footwear and apparel, aimed at expanding distribution [17] - The company is reorganizing into sport-focused teams to drive deeper relationships with athletes and enhance product innovation [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q4 results were not up to Nike's standards but expressed optimism about future improvements [7] - The company expects headwinds to revenue and gross margin to begin to moderate, with a clear path to recovery ahead [22][44] - Management emphasized the importance of inspiring and innovating for consumers, with a focus on returning to sustainable growth [25] Other Important Information - The company is facing new tariffs that are expected to increase costs by approximately $1 billion, with plans to mitigate this impact over time [42][43] - Inventory remains elevated but is being managed down, with a goal to exit the first half of fiscal 2026 in a healthy position [30][47] Q&A Session Summary Question: Can you elaborate on the accelerated actions under your sport offense realignment? - The company is organizing into sport-obsessed teams to drive a relentless flow of innovative products across all brands, focusing on performance and sportswear [61][62] Question: What is the expected impact of tariffs in Q1? - The first quarter will see a larger impact from tariffs, but the company is confident in its ability to mitigate these over time as actions are implemented [74][77] Question: Are you expecting gross margin pressures to abate sequentially? - Margins are expected to remain under pressure in the first half of fiscal 2026, but moderation is anticipated in the second half [79][80] Question: Can you discuss the timeline for recovery in the China marketplace? - The company believes in the long-term opportunity in China and is focused on inspiring consumers, although recovery will take time due to unique market characteristics [102]

Key Takeaways NIKE expects Q4 revenues to fall 15% and EPS to drop 89% amid macro and lifestyle demand headwinds. China weakness, digital softness and margin pressure are key hurdles ahead of the June 26 earnings report. NKE's high costs and shrinking gross margin reflect ongoing restructuring and cost management efforts.NIKE Inc. (NKE) is slated to release fourth-quarter fiscal 2025 results on June 26. The leading sports apparel retailer is estimated to have witnessed year-over-year declines in the top a ...

以下文章来源于那个NG ，作者渣渣郡 那个NG . 用关注决定视界｜复杂世界的策展人 出品 | 虎嗅青年文化组 作者 | 渣渣郡 本文首发于虎嗅年轻内容公众号"那個NG"（ID：huxiu4youth）。在这里，我们呈现当下年轻人的面 貌、故事和态度。 中午工作餐是预制的，玩的游戏是重置的，穿衣服的风格是复古的，去电影院看电影是4k重置的。 这些生活方式如果是一时的，我们可以说这是品味；但恰恰是因为过于持久，所以难免会让人觉得自 己生活在鬼打墙的静态世界里，很无聊。 时尚饱受诟病。美国时尚评论家@Jason Farago在2023年就曾评价当下是500年来最缺乏创新的时 代。 但现在，这位评论家应该感到欣喜，因为"sneaker loafer · 运动乐福鞋"的风潮，似乎正让时尚有了 点新意。 2025年6月16日，Atmos创意总监小岛宽文在个人IG上公布了一双NIKE球鞋，目前它是女性专属款 式，名为Nike Air Max Phenomena。 从照片可见，这款球鞋以Air Max Sunder大底为基础，运用皮革为主材，打造了经典乐福的轮廓。这 种揉合了传统乐福设计和球鞋科技的款式，就是现在运动乐福鞋 ...

中午工作餐是预制的，玩的游戏是重置的，穿衣服的风格是复古的，去电影院看电影是4k重置的。 这些生活方式如果是一时的，我们可以说这是品味；但恰恰是因为过于持久，所以难免会让人觉得自己生活在鬼打墙的静态世界里，很无聊。 时尚饱受诟病。美国时尚评论家@Jason Farago在2023年就曾评价当下是500年来最缺乏创新的时代。 但现在，这位评论家应该感到欣喜，因为"sneaker loafer · 运动乐福鞋"的风潮，似乎正让时尚有了点新意。 2025年6月16日，Atmos创意总监小岛宽文在个人IG上公布了一双NIKE球鞋，目前它是女性专属款式，名为Nike Air Max Phenomena。 从照片可见，这款球鞋以Air Max Sunder大底为基础，运用皮革为主材，打造了经典乐福的轮廓。这种揉合了传统乐福设计和球鞋科技的款式，就是现在运 动乐福鞋的核心奥义。 在市场观察家看来，这是NIKE回应当下"sneaker loafer · 运动乐福鞋"的策略，在这场趋势中，这家巨头的反应稍显迟缓。 在大多数观察家眼里，今天的这股"sneaker loafer · 运动乐福鞋"浪潮的领军角色，无疑是New Bal ...

Core Insights - NIKE's Jordan Brand remains a strong asset, but reported a double-digit decline in classic footwear franchises in Q3 fiscal 2025, indicating potential market saturation [1][8] - NIKE is implementing a diversified brand strategy, focusing on new product launches while managing classic lines to rejuvenate the market [2][8] - Long-term growth for NIKE will depend on balancing heritage with innovation, as the Jordan brand alone cannot sustain growth indefinitely [3] Competitive Landscape - Key competitors for NIKE in the footwear and accessories market include Deckers Outdoor Corporation and adidas AG [4] - Deckers is positioned for growth with strong brand equity and a focus on international expansion, particularly through its HOKA and UGG brands [5] - adidas is expanding its market presence through new product lines and collaborations, offering a wide range of athletic apparel and footwear [6] Financial Performance - NIKE shares have declined by 22.1% year to date, compared to a 19% decline in the industry [7] - The company trades at a forward price-to-earnings ratio of 30.53X, higher than the industry average of 24.42X [9] - Earnings estimates for fiscal 2025 and 2026 indicate a year-over-year decline of 46.1% and 11.4%, respectively, with EPS estimates showing stability for fiscal 2025 but a downward trend for fiscal 2026 [10][11]

Core Viewpoint - Nike has raised prices on many of its best-selling sneakers by $5 to $10, but the company does not attribute these increases to tariffs despite expert opinions suggesting otherwise [1][4]. Pricing Strategy - Nike has implemented price increases of 2% to 6% on popular footwear, including models like Air Max 270, Vomero 5, and Zoom Fly 6 [1]. - The company is strategically raising prices on styles it believes can handle the increases, while avoiding hikes on children's products and items priced below $100 [2][9]. Sales Performance - Nike has experienced a 9% sales decline during the crucial holiday season quarter and anticipates a steeper-than-expected drop in fourth-quarter revenue [6]. - The company has appointed Elliott Hill as CEO to lead a turnaround after a year of sagging sales [5]. Market Context - Other major retailers, such as Walmart and Macy's, have indicated that tariffs will force them to raise prices, reflecting a broader trend in the retail industry [11][12]. - Nike's price increases began on its website and may extend to other retailers selling its merchandise [9]. Product Pricing Details - Most Nike sneakers priced over $150 will see increases of up to $10, while those below $150 will increase by $5 [9]. - Some popular styles, like the $115 Air Force 1 sneakers, have not seen price hikes [10]. Strategic Moves - Nike plans to return to selling its merchandise on Amazon for the first time since 2019, a move seen as critical due to declining sales [10].