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Jsvmax79
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Nike, $NKE, earnings: EPS $0.7 vs $0.53 expected Revenue $11.59B vs $11.65B
Revenue Decline: Nike reported Q1 2025 revenues of $11.6B, down 10% year-over-year and down 9% on a currency-neutral basis. This was driven by declines across all geographies and channels. Earnings Drop: Diluted EPS was $0.70, down 26% YoY, with net income decreasing 28% to $1.1B. Gross Margin Improvement: Gross margin increased by 120 basis points to 45.4%, primarily due to lower product costs, warehousing and logistics efficiencies, and strategic pricing actions. CEO Transition: Nike appointed Elliott Hill as President and CEO, effective October 14, 2024, during a critical transition period. The Q1 conference call will address guidance given this leadership change. Investor Day Postponed: The previously announced Investor Day has been postponed, adding some uncertainty for investors looking for strategic direction. Lower Inventories: Inventories were down 5% YoY to $8.3B, indicating effective inventory management. Cash Position: Cash and short-term investments increased to $10.3B, up $1.5B from the previous year, partly offset by share repurchases and dividend payments. Shareholder Returns: Nike returned $1.8B to shareholders through dividends and share buybacks, with a total of $10.2B repurchased under its four-year $18B program. Segment Performance: NIKE Brand: $11.1B in revenue, down 10% on a reported basis and 9% on a currency-neutral basis. Converse: $501M in revenue, down 15% on a reported basis and 14% on a currency-neutral basis. Geographic Declines: North America and EMEA (Europe, Middle East & Africa) both saw revenue drops of 11%, while Greater China reported a 4% decline, and Asia Pacific & Latin America were down 7%
Revenue Decline: Nike reported Q1 2025 revenues of $11.6B, down 10% year-over-year and down 9% on a currency-neutral basis. This was driven by declines across all geographies and channels. Earnings Drop: Diluted EPS was $0.70, down 26% YoY, with net income decreasing 28% to $1.1B. Gross Margin Improvement: Gross margin increased by 120 basis points to 45.4%, primarily due to lower product costs, warehousing and logistics efficiencies, and strategic pricing actions. CEO Transition: Nike appointed Elliott Hill as President and CEO, effective October 14, 2024, during a critical transition period. The Q1 conference call will address guidance given this leadership change. Investor Day Postponed: The previously announced Investor Day has been postponed, adding some uncertainty for investors looking for strategic direction. Lower Inventories: Inventories were down 5% YoY to $8.3B, indicating effective inventory management. Cash Position: Cash and short-term investments increased to $10.3B, up $1.5B from the previous year, partly offset by share repurchases and dividend payments. Shareholder Returns: Nike returned $1.8B to shareholders through dividends and share buybacks, with a total of $10.2B repurchased under its four-year $18B program. Segment Performance: NIKE Brand: $11.1B in revenue, down 10% on a reported basis and 9% on a currency-neutral basis. Converse: $501M in revenue, down 15% on a reported basis and 14% on a currency-neutral basis. Geographic Declines: North America and EMEA (Europe, Middle East & Africa) both saw revenue drops of 11%, while Greater China reported a 4% decline, and Asia Pacific & Latin America were down 7%