Overview
- Nike reported roughly $11.0 billion in revenue for the fiscal fourth quarter with headline earnings helped by a one‑time ~$986 million tariff recovery that added about $0.52 to $0.72 of reported EPS.
- Greater China continued to drag the business, with reported revenue down about 12% and a currency‑adjusted decline near 17%, underscoring a deep, ongoing slowdown in that market.
- Channels diverged: Nike Direct fell (Nike Direct down 7%, Nike Digital down 12%, Nike‑owned stores down 7%) while wholesale rose about 4% overall and North America wholesale showed stronger sell‑in activity.
- Investors lifted the stock by roughly 8% in late June/early July but analysts remain cautious, with Bank of America cutting its price target to $47 and warning that the tariff benefit masks weaker underlying performance.
- Management is prioritizing inventory cleanup, wholesale rebalancing, product and marketing pushes (notably running) and a multi‑quarter China reset, and investors will watch sell‑through and upcoming product catalysts to judge whether recovery is durable.