Overview
- Nike reported fourth-quarter results on Tuesday, June 30, with revenue of $10.97 billion and diluted EPS of $0.72 that included an expected $986 million tariff recovery.
- The tariff benefit added roughly $0.52 a share and pushed gross margin up about 890 basis points, while adjusted EPS excluding that item was roughly $0.20 per share.
- Underlying demand was mixed with wholesale revenue up about 4% and North America showing modest growth but Nike Direct falling about 7–9% and Greater China down roughly 12% on a reported basis.
- Management set cautious fiscal 2027 guidance for low- to mid-single-digit revenue declines and ‘flattish’ early-year earnings, confirmed a CFO transition to David Denton, and moved investor day to November.
- Investors reacted negatively despite the headline beat as questions remain over sell-through, wholesale reorder rates, product innovation and how quickly inventory cleanup and marketing (including World Cup activity) will translate into sustained growth.