NIKE said revenue for fiscal 2025 Q3, which ended on February 28, 2025, was $11.3 billion, down 9% from the prior-year period on a reported basis and down 7% on a currency-neutral basis. NIKE Direct revenue was $4.7 billion, and Wholesale revenue was $6.2 billion.

1. 01

   NIKE said revenue for fiscal 2025 Q3, which ended on February 28, 2025, was $11.3 billion, down 9% from the prior-year period on a reported basis and down 7% on a currency-neutral basis. NIKE Direct revenue was $4.7 billion, and Wholesale revenue was $6.2 billion.

2. 02

   The company said gross margin for Q3 fell 330 basis points to 41.5%. It cited higher discounts, higher inventory obsolescence reserves, higher product costs and changes in channel mix as factors, partially offset by restructuring charges in the prior year.

3. 03

   The company said net income for Q3 fell 32% to $794 million, and diluted earnings per share fell 30% to $0.54. It said the effective tax rate of 5.9% reflected a one-time, non-cash deferred tax benefit from recently finalized U.S. tax regulations.

4. 04

   The company said cash and equivalents and short-term investments were $10.4 billion as of February 28, 2025, and that it returned approximately $1.1 billion to shareholders in Q3. That included dividends of $594 million and share repurchases of $499 million.

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Original filing

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