Nike reported second quarter fiscal 2025 revenues of $12.4 billion, down 8% from $13.4 billion a year ago, while net income declined 26% to $1.16 billion. NIKE Direct revenues fell 13% to $5.0 billion, with digital sales dropping 21%. Gross margin contracted 100 basis points to 43.6%, impacted by higher discounts and changes in channel mix.The company faced headwinds across major markets, with North America revenues down 8%, EMEA declining 7%, Greater China falling 8%, and Asia Pacific & Latin America decreasing 3%. Wholesale revenues decreased 3% to $6.9 billion while inventory levels rose 6% compared to May 2024, primarily driven by increased units.Management is taking strategic actions to reposition the business, including reducing supply of certain footwear products, repositioning NIKE Brand Digital as a full-price platform, and increasing investment in demand creation. The company returned approximately $1.6 billion to shareholders through share repurchases and dividends during the quarter.

Nike reported second quarter fiscal 2025 revenues of $12.4 billion, down 8% from $13.4 billion a year ago, while net income declined 26% to $1.16 billion. NIKE Direct revenues fell 13% to $5.0 billion, with digital sales dropping 21%. Gross margin contracted 100 basis points to 43.6%, impacted by higher discounts and changes in channel mix.The company faced headwinds across major markets, with North America revenues down 8%, EMEA declining 7%, Greater China falling 8%, and Asia Pacific & Latin America decreasing 3%. Wholesale revenues decreased 3% to $6.9 billion while inventory levels rose 6% compared to May 2024, primarily driven by increased units.Management is taking strategic actions to reposition the business, including reducing supply of certain footwear products, repositioning NIKE Brand Digital as a full-price platform, and increasing investment in demand creation. The company returned approximately $1.6 billion to shareholders through share repurchases and dividends during the quarter.