Nike is expected to report lower sales and profits in Q1 2025, with a new CEO

From NBC Universal: 2024-10-01 12:00:01

Nike is set to report its fiscal first quarter of 2025 earnings amid expectations of a 10% drop in sales and a nearly 45% plunge in profits. CEO John Donahoe is stepping down after growing sales by 31% through legacy franchises rather than groundbreaking styles.

Incoming CEO Elliott Hill will need to boost Nike’s innovation, reset relationships with wholesalers, and improve morale after layoffs. The sneaker market in the U.S. has been sluggish, with footwear sales projected to grow just 2% this year. Nike’s performance in China, its third largest market, will also be a key focus.



Read more at NBC Universal:: Nike (NKE) earnings Q1 2025