Nike’s Sales Fall, But Not as Much as Expected as CEO Touts Progress in Turnaround Plan
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Nike's fiscal fourth-quarter sales fell 12% year-over-year to $11.1 billion, but exceeded analyst expectations. Net income dropped to $211 million, or 14 cents per share, down from $1.5 billion, or 99 cents per share, in the previous year. CEO Elliott Hill noted progress in the company's turnaround plan, which may impact short-term sales but is expected to improve business moving forward. Despite the better-than-expected results, Nike shares fell about 1% in extended trading, down 17% for 2025.
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