Nike has released its financial results for the fourth quarter and full fiscal year ending May 31, 2025, showing a noticeable drop in both revenue and profit.
For the entire year, the company made $46.3 billion in revenue, which is 10% less than last year. In the fourth quarter alone, Nike earned $11.1 billion, a 12% decrease compared to the same period last year.
The company’s direct-to-consumer sales dropped 14% in the quarter, with its online Nike Brand Digital platform falling by 26%. Wholesale revenues also took a hit, dropping 9%. Converse, Nike’s subsidiary, saw its revenue dip by 26%.
Nike’s gross margin fell to 40.3% in the quarter, down by 4.4% points. This was mainly due to higher discounts and changes in how products were sold. Overall net income dropped sharply by 86%, and earnings per share fell to just $0.14.
“While our financial results are in-line with our expectations, they are not where we want them to be. Moving forward, we expect our business to improve as a result of the progress we’re making through our Win Now actions.”
Elliott Hill, President & CEO, NIKE, Inc.
For the full fiscal year, Nike’s net income stood at $3.2 billion, a 44% drop. Earnings per share for the year came to $2.16, down 42%. Gross margin for the year was 42.7%.
Despite the downturn, Nike kept rewarding its shareholders. It returned $5.3 billion in fiscal 2025 through dividends and share repurchases. The company has now bought back a total of 122.6 million shares since 2022 under a $18 billion program.
