NIKE, Inc. has issued a correction regarding its product purchase obligations as of May 31, 2025. The company disclosed that the initial amount reported in its Annual Report was overstated. The corrected figure for product purchase obligations is approximately $5 billion, which is all due within the next 12 months.
This correction is part of a voluntary filing and does not imply any admission regarding the materiality of the information provided. The product purchase obligations pertain to agreements related to the company's regular business operations, including open purchase orders.
linkJul 28, 2025 16:17:28
In its earnings report, NIKE highlighted efforts to improve business operations through its 'Win Now' strategy, which aims to enhance alignment around key sports and product offerings. The company returned approximately $5.3 billion to shareholders in fiscal 2025, including $2.3 billion in dividends and $3.0 billion in share repurchases. The effective tax rate for the fourth quarter was notably higher at 33.6%, compared to 13.1% in the prior year, impacting overall earnings. NIKE management will discuss these results further in a conference call scheduled for June 26, 2025.
linkJun 26, 2025 16:18:10
NIKE, Inc. has announced the nomination of Jørgen Vig Knudstorp for election to its Board of Directors at the 2025 annual meeting of shareholders, scheduled for September 9, 2025. Knudstorp has a significant background in leadership, having served as President and CEO of the LEGO Group from 2004 to 2016 and as Executive Chair from 2017 to 2023. He also holds a master's degree and a PhD in economics and business management from Aarhus University.
Mark Parker, Executive Chairman of NIKE, expressed confidence that Knudstorp's experience in brand and digital marketing, strategy, and consumer products will be beneficial to the company. In addition to his role at LEGO, Knudstorp is the lead independent director of Starbucks Corporation and serves as a Partner and Executive Advisor of Innovation Endeavors. NIKE continues to position itself for growth through innovative product development and brand storytelling.
linkJun 25, 2025 16:17:08
NIKE, Inc. has made significant changes to its Senior Leadership Team to strengthen its growth strategy and support the Win Now action plan. Key appointments include Amy Montagne as President, Phil McCartney as EVP, Chief Innovation, Design & Product Officer, Nicole Graham as EVP, Chief Marketing Officer, and Tom Clarke as Chief Growth Initiatives Officer. Heidi O’Neill, who has been with Nike for 26 years, will retire but continue to serve in an advisory role until September 2025.
These leadership changes are aimed at improving the company's focus on consumers and sports through distinct areas of leadership in Consumer and Sport, Marketing, and Product Creation. The new leadership team brings extensive experience within Nike, with a track record of driving innovation and brand impact. This restructuring is intended to better align the company's operations to enhance its competitive position in the market.
linkMay 05, 2025 16:26:26
NIKE, Inc. reported a revenue of $11.3 billion for the third quarter of fiscal 2025, marking a 9 percent decline compared to the previous year. NIKE Direct revenues fell by 12 percent, primarily due to a decrease in digital sales and store performance. The gross margin decreased to 41.5 percent, largely attributed to increased discounts and higher product costs. The diluted earnings per share were $0.54, reflecting a 30 percent decrease from the prior year, and net income was reported at $794 million, down 32 percent.
On a positive note, NIKE continued its commitment to shareholder returns, distributing approximately $1.1 billion in the third quarter, which included a 6 percent increase in dividends. The company also noted a decrease in selling and administrative expenses by 8 percent, which was attributed to lower operating overhead costs. Additionally, inventories showed a slight decline of 2 percent from the previous year, indicating some adjustments in product mix.
linkMar 20, 2025 16:16:53
NIKE, Inc. reported second quarter revenues of $12.4 billion, marking an 8 percent decrease compared to the previous year. The decline was seen across various segments, with NIKE Direct revenues falling by 13 percent and wholesale revenues down by 3 percent. The company's gross margin also decreased by 100 basis points to 43.6 percent, attributed to higher discounts and changes in channel mix, despite some cost reductions in product inputs and logistics. Net income dropped by 26 percent to $1.2 billion, resulting in diluted earnings per share of $0.78, a decrease of 24 percent.
On a positive note, NIKE maintained its commitment to shareholder returns, distributing approximately $1.6 billion in the second quarter, which included a 7 percent increase in dividends and $1.1 billion in share repurchases. The company has a history of increasing dividend payouts for 23 consecutive years, reflecting its dedication to returning value to shareholders. Additionally, while overall revenues decreased, there were some improvements in managing selling and administrative expenses, which saw a 3 percent reduction, indicating efforts to streamline operations amid challenging market conditions.
linkDec 19, 2024 16:15:58
Nike's first quarter results show a significant drop in revenues, with a reported total of $11.6 billion, marking a 10% decrease compared to the previous year. Both NIKE Direct and wholesale revenues also saw declines, reflecting challenges across various markets. Additionally, net income fell by 28%, and diluted earnings per share decreased by 26%. However, the company did manage to increase its gross margin to 45.4%, which indicates better cost management in some areas, despite overall revenue challenges.
On a positive note, Nike continues to prioritize shareholder returns, distributing approximately $1.8 billion in the first quarter, which includes a 6% increase in dividends. The appointment of Elliott Hill as the new CEO is seen as a pivotal moment for the company, with expectations for renewed growth and innovation. Despite the current revenue declines, there are indications of optimism from management regarding future performance and strategic initiatives.
linkOct 01, 2024 16:15:25
NIKE, Inc. has announced the return of Elliott Hill as President and Chief Executive Officer, effective October 14, 2024. The Board of Directors believes Hill's extensive experience and understanding of the industry make him well-suited to lead the company into its next phase of growth. Hill, who previously held senior leadership roles at Nike, expressed enthusiasm for reconnecting with employees and partners, and aims to deliver innovative products that resonate with consumers. This change follows the retirement of John Donahoe, who will assist during the transition until January 2025.
The leadership shift comes at a critical time for NIKE, with Hill expected to leverage his global expertise to enhance the company's performance. Donahoe's tenure included navigating challenges during the COVID pandemic and supporting community investments. While Hill's return is seen positively, the transition period will be crucial as the company adapts to new leadership and seeks to maintain its competitive edge in the market.
linkSep 19, 2024 16:16:42
NIKE, Inc. reported a 1% revenue increase for the full year, with fourth-quarter revenues slightly down. Gross margin improved, but challenges led to updated fiscal outlook for 2025. Net income grew by 45% in the fourth quarter, and the company showed a strong record of returning value to shareholders. NIKE is addressing challenges to enhance competitiveness and drive long-term growth, focusing on innovation and consumer needs.
linkJun 27, 2024 16:16:39
NIKE, Inc. reported a slight revenue increase in Q3, with growth in direct sales and wholesale. Gross margin improved, but net income and earnings per share declined. The company is focused on driving growth through innovation and efficiency. Despite challenges in certain regions, NIKE continues to invest in shareholder returns with increased dividends and share repurchases.
linkMar 21, 2024 16:16:07