Nike, Inc. has announced its financial results for the third quarter of fiscal 2025, showing a 9% decline in total revenue compared to the same period last year. The company reported $11.3 billion in revenue, with declines across multiple segments, including direct sales and wholesale.
Key Financial Highlights
Total revenue: $11.3 billion, down 9%
Nike Direct revenue: $4.7 billion, down 12%
Wholesale revenue: $6.2 billion, down 7%
Gross margin: 41.5%, a drop of 330 basis points
Net income: $794 million, a 32% decrease
Earnings per share: $0.54, down 30%
Despite these declines, Nike’s leadership remains optimistic about future performance. CEO Elliott Hill reaffirmed the company’s commitment to its “Win Now” strategy, emphasizing Nike’s focus on athlete-driven storytelling, innovative performance products, and major sports events to regain market momentum.
Nike attributes the drop in revenue to multiple factors:
- A 15% decline in Nike Brand Digital sales
- A 2% drop in sales at Nike-owned retail stores
- Higher discounts and increased product costs, which impacted profit margins
- A slowdown in global sales, with declines across all regions
Nike’s Chief Financial Officer Matthew Friend remains confident about the second half of the fiscal year. He emphasized that the company will focus on brand engagement, product innovation, and strengthening its retail presence to drive growth.
Nike continues to return value to shareholders, having repurchased 6.5 million shares worth $499 million and paid $594 million in dividends during the quarter. The company has now bought back 119.3 million shares under its four-year, $18 billion repurchase program.
