Nike has released its Q2 fiscal 2025 financial results.
After struggling earlier in the year, the company ended the year higher than expectations, with a quarterly revenue of $12.35 billion.
In the last year, Nike shares are down more than 36%, however investors remain positive that the company’s new CEO and President, Elliott Hill, is turning the bussiness around.
“After an energizing 60 days of being back with my NIKE teammates, our clear priority is to return sport to the center of everything we do,” Hill said. “We’re taking immediate action to reposition our business, so we can get back to driving long-term shareholder value. Our team is ready to go, and I’m confident you will see more moments of NIKE being NIKE again.”
The company’s CFO, Matthew Friend, told investors; “NIKE’s second-quarter financial performance largely met our expectations, as we continue to make progress in shifting our portfolio… Under Elliott’s leadership, we are accelerating our pace and reigniting brand momentum through sport.”
Nike’s next quarter’s gross margins are predicted to be approximately 300 to 350 basis points lower, as Nike looks to “clean and to reset the marketplace,” Friend said.
By CEO NA Editorial Staff
