Nike said revenues for August 31, 2025 ended Q1 were $11.7 billion, up 1% on a reported basis and down 1% on a currency-neutral basis. Net income was $0.7 billion, down 31%, and diluted earnings per share were $0.49, down 30%.

1. 01

   Nike said revenues for August 31, 2025 ended Q1 were $11.7 billion, up 1% on a reported basis and down 1% on a currency-neutral basis. Net income was $0.7 billion, down 31%, and diluted earnings per share were $0.49, down 30%.

2. 02

   The company said gross margin fell 320 basis points to 42.2%. It cited lower average selling price, reflecting higher discounts and channel mix, as well as higher tariffs in North America as factors.

3. 03

   Nike said NIKE Direct revenues were $4.5 billion, down 4% on a reported basis, citing a 12% decrease in NIKE Brand Digital and a 1% decrease in NIKE-owned retail stores. Wholesale revenues were $6.8 billion, up 7% on a reported basis.

4. 04

   The company said it returned approximately $714 million to shareholders in Q1, including dividends of $591 million and share repurchases of $123 million. Under the $18 billion program approved in June 2022, the company had repurchased a total of approximately $12.1 billion as of August 31, 2025.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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