The call highlighted a series of strategic actions aimed at reigniting growth through product innovation and brand engagement, particularly in performance categories. However, significant challenges remain, particularly in terms of revenue declines, gross margin pressures, and difficulties in the Greater China market. The company is taking proactive steps to address these issues, but the extent of the challenges suggests a balanced outlook.

Company Guidance

In the call, Nike provided extensive guidance on their strategic priorities and financial performance metrics. For the fiscal 2025 third quarter, revenues were reported to be down 9% on a reported basis and 7% on a currency-neutral basis. Nike Direct saw a decline of 10%, with Nike Digital dropping 15% and Nike Stores declining 2%. Wholesale revenues fell by 4%, primarily due to declines in Greater China. Gross margins decreased by 330 basis points to 41.5%, attributed to higher markdowns, wholesale discounts, and channel mix headwinds. The effective tax rate was 5.9%, compared to 16.5% the previous year, due to a one-time tax benefit. Earnings per share stood at $0.54. Inventory levels declined by 2% year-over-year, though they remain elevated across geographies. Nike's "Win Now" actions focus on reigniting brand momentum, elevating market presence, and accelerating product portfolio transitions, particularly in performance dimensions such as running and training. The company anticipates the fourth quarter to reflect the largest impact from these strategic actions, with headwinds expected to moderate thereafter. Additionally, Nike is focused on reducing promotional activity, particularly in the Nike Digital channel, and aims to significantly adjust their inventory mix in fiscal 2026.

Performance Product Growth

The performance segment, specifically in running and training, showed growth, with running growing mid-single digits. New product launches like the Pegasus Premium and Vomero 18 have driven healthy volume and are expected to scale further.

Innovative Product Launches

NIKE launched several new products, including the Peg Premium and Vomero 18, that have received positive consumer responses. The new 24/7 collection in apparel exceeded sales expectations, highlighting successful innovation in both footwear and apparel.

NIKE Direct Promotional Reduction

NIKE Digital in North America reduced promotional days from over 30 to zero in January and February, indicating a shift towards a full-price business model.

Successful Brand Engagement

NIKE achieved significant brand impact through high-profile events such as the Super Bowl and NBA All-Star weekend, driving brand engagement with emotional storytelling and on-the-ground activations.

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Nike (NKE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NKE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jun 26, 2025	2025 (Q4)	0.12 / -	1.01	―	―	―
Mar 20, 2025	2025 (Q3)	0.30 / 0.54	0.98	-44.90% (-0.44)	―
Dec 19, 2024	2025 (Q2)	0.67 / 0.78	1.03	-24.27% (-0.25)	―
Oct 01, 2024	2025 (Q1)	0.52 / 0.70	0.94	-25.53% (-0.24)	―
Jun 27, 2024	2024 (Q4)	0.84 / 1.01	0.66	53.03% (+0.35)	―
Mar 21, 2024	2024 (Q3)	0.76 / 0.98	0.79	24.05% (+0.19)	―
Dec 21, 2023	2024 (Q2)	0.84 / 1.03	0.85	21.18% (+0.18)	―
Sep 28, 2023	2024 (Q1)	0.76 / 0.94	0.93	1.08% (<+0.01)	―
Jun 29, 2023	2023 (Q4)	0.68 / 0.66	0.9	-26.67% (-0.24)	―
Mar 21, 2023	2023 (Q3)	0.56 / 0.79	0.87	-9.20% (-0.08)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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NKE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 20, 2025	$71.86	$67.94	-5.46%
Dec 19, 2024	$76.71	$76.55	-0.21%
Oct 01, 2024	$88.23	$82.26	-6.77%
Jun 27, 2024	$92.82	$74.28	-19.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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