Nike’s Q4 net income jumped to $1.06bn, driven by a tariff recovery, while China revenue fell 17% on a currency-neutral basis.
Nike reported Q4 net income of $1.06bn, up 407% year-over-year, as an $986m tariff refund boosted gross margins by 890 basis points to 49.2%. Earnings per share rose to $0.72 from $0.14, including a $0.52 benefit from the tariff recovery.
Revenue declined 1% to $10.97bn on a reported basis and 4% on a currency-neutral basis. Nike Brand revenue was flat at $10.72bn, with North America growth offset by declines in Greater China and EMEA. Greater China revenue fell 12% reported and 17% currency-neutral, while Converse sales dropped 32% to $244m.
Wholesale revenue increased 4% to $6.6bn, but Nike Direct sales fell 7% to $4.1bn, driven by a 12% drop in digital sales and a 7% decline in owned stores. Full-year revenue reached $46.39bn, reflecting mixed regional performance.