Nike reports a 4% currency-neutral revenue decline for Q4, missing expectations amid weak China sales and execution challenges.
Nike’s fiscal fourth-quarter revenue reached $11.0 billion, down 1% reported and 4% on a currency-neutral basis. The decline reflects ongoing struggles in key markets, including China, where sales continue to slide.
Diluted earnings per share of $0.72 were boosted by a $0.52 one-time tariff recovery benefit, masking weaker underlying performance. Executives guided for low-to-mid single-digit revenue declines in the fiscal first quarter, with flat EPS growth expected over the next three quarters.
Shares fell 2% in premarket trading, extending a 40% year-to-date decline. Competitors like On Holdings are gaining ground as Nike grapples with shifting consumer preferences and operational missteps under CEO Elliott Hill.