NIKE, Inc. announced its financial results for fiscal 2025’s fourth quarter and full year, forecasting an additional $1 billion in costs due to tariffs.
Nike’s full-year revenues were $46.3 billion, down 10 percent, while its fourth-quarter revenues were $11.1 billion, down 12 percent.
Elliott Hill, President & CEO, NIKE, Inc. told investors, “While our financial results are in-line with our expectations, they are not where we want them to be. Moving forward, we expect our business to improve as a result of the progress we’re making through our Win Now action.”
“As we enter a new fiscal year, we are turning the page and the next step is aligning our teams to lead with sport through what we are calling the sport offense. This will accelerate our Win Now actions to reposition our business for future growth.”
According to the company, the sports offense realignment will focus on creating clear distinctions within key sports, developing a comprehensive product portfolio, crafting stories to inspire and connect with consumers, and enhancing and expanding the entire marketplace.
Matthew Friend, Executive Vice President & Chief Financial Officer, NIKE, Inc. stated, “The fourth quarter reflected the largest financial impact from our Win Now actions, and we expect the headwinds to moderate from here… I am confident in our ability to navigate through this current dynamic and uncertain environment by focusing on what we can control and executing our Win Now actions.”
After the earnings announcement, Nike’s CFO, Matthew Friend, stated on an investor earnings call that tariffs “represent a new and meaningful cost headwind” which will be offset by reducing imports from China and raising prices.
Despite the negative impact of tariffs, Nike shares jumped 11% in premarket trading today.
By CEO NA Editorial Staff