NBCC

Image: Nike’s shares have languished of late, and a comeback will take some time. By Brian Nelson, CFA On June 27, Nike (NKE) reported disappointing fourth quarter fiscal 2024 results and issued an outlook for fiscal 2025 that came up short relative to expectations. Revenue in the quarter fell 2%, missing the consensus estimate, but was flat on a currency-neutral basis. Revenue for its Nike brand advanced 1% on a currency-neutral basis, while Nike direct revenue fell 7% on a currency-neutral basis. Wholesale revenue was up 8% on a currency-neutral basis, while revenues for Converse dropped 17% on a currency-neutral basis. Nike’s guidance for 2025 wasn’t very encouraging. Here’s what the executive team said on the conference call: Now let … Read more