Nike, Inc. reported earnings in the fiscal fourth quarter ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
Earnings in the fourth quarter reached $1.01, excluding charges, compared to Wall Street’s consensus estimate of 84 cents a share. Revenue came in at $12.6 billion, down from $12.9 million in the prior year quarter.
Nike did not provide updated guidance for FY25 in the company’s release, but it will on the company’s analyst call that SGB Executive will cover.
“We are taking our near-term challenges head-on while making continued progress in the areas that matter most to Nike’s future – serving the athlete through performance innovation, moving at the pace of the consumer, and growing the complete marketplace,” said John Donahoe, president and CEO, Nike, Inc. “I’m confident that our teams are lining up our competitive advantages to create greater impact for our business.”
See below for SGB Executive coverage of this developing story, including lowered guidance figures:
