Company Performance - Deckers' stock fell after reporting fiscal fourth-quarter results that exceeded expectations but provided disappointing guidance [1] - The company achieved a 6.5% year-over-year revenue increase to $1.02 billion, with Ugg brand sales growing by 3.6% and Hoka sales increasing by 10% [1][2] - For fiscal 2025, overall revenue rose 16.3% to $4.99 billion, with Ugg sales up 13.1% and Hoka up 23.6% [2] Future Guidance - Management refrained from providing full-year guidance due to macroeconomic uncertainties, projecting a 9% revenue growth for fiscal 2026's first quarter [3] - Earnings per share are expected to decline due to rising costs from tariffs, freight, and increased promotional activities [3] Market Position - Deckers has gained market share from Nike, with a compound annual revenue growth rate of 19% over the last five years [4] - Hoka's revenue reached $2.23 billion in fiscal 2025, while Ugg's sales were $2.53 billion, indicating Hoka's strong position in the running category [4] Competitor Analysis - Nike has experienced a decline in revenue for several quarters, missing out on a post-pandemic boom in running [6] - However, Nike's sales in the running category grew by a mid-single-digit percentage in fiscal 2025 Q3, indicating a potential recovery [7][8] - Hoka's 10% revenue growth suggests it is still gaining market share from Nike, but analysts believe Nike may be regaining ground [9][10] Analyst Insights - Jefferies analyst Randal Konik suggests that Hoka's slowing growth may indicate a shift in market share back to Nike [10] - Jefferies has given Nike a buy rating with a price target of $115, which is approximately 85% higher than its current level [11] - Nike is currently trading at its lowest enterprise-value-to-sales multiple in 15 years, primarily due to a decline in stock price [12]

耐克交出了新CEO上任后的第一份成绩单。 3月21日，耐克披露了2025财年三季度 （2024年12月至2025年2月） 财报：营收112.69亿美元，高于此前分 析师预计的110.3亿美元，净利润7.94亿美元，同样高于预期。 在大中华区，季度内，耐克录得17.33亿美元营收，息税前利润4.21亿美元。 耐克仍在转身。尽管季度内，其营收、净利还没有止跌回稳，但一些好转的迹象也在显现，比如库存在加 速出清、率先开启变革的北美市场营收降福在收窄。 调整从来不是一蹴而就的。相比起看到"同比下降"字眼，就条件反射得出"不行了""转型没成功""行业老大 地位不保"等武断结论，更理性的做法或许是，串联起多个数据看趋势，以此跟踪巨头转身的轨迹和速度。 耐克，正在重新成为耐克 自从开启主动变革以来，耐克的每一份财报，都会被仔细审视。大家迫切想知道，耐克重新回归的一系列 举措，比如产品创新、重回运动、清理库存，是否已经反映到财务数据上。 答案是肯定的。 过去一段时间，除了具体到产品层面的动作外，耐克式营销也在加速回归。 第三季度，耐克投入到需求创 造的支出为11亿美元，同比增长8%，主要由于品牌营销支出在增加。当超级碗中场、 ...

Nike (NKE) Q2 2025 Earnings Call December 19, 2024 05:00 PM ET Company Participants Paul Trussell - VP of Corporate Finance & TreasurerElliott Hill - President & CEOMatthew Friend - Executive VP & CFOBob Drbul - Senior Managing DirectorMichael Binetti - Senior Managing DirectorLorraine Hutchinson - Managing DirectorJay Sole - Managing DirectorBrooke Roach - Vice President, Equity Research Conference Call Participants Adrienne Yih - Managing Director, Consumer Discretionary AnalystMatt Boss - Equity Research ...