Nike reported quarterly earnings that exceeded Wall Street expectations, with adjusted earnings per share of 20 cents compared to the 13 cents expected, and revenue of 10.97 billion dollars, a 130 million dollar increase from the expected 10.86 billion dollars. The company’s gross margin increased 8.9 percent during the quarter, aided by a nearly billion dollar tariff refund of 986 million dollars. The results mark early progress for CEO Elliott Hill, who was brought out of retirement to reverse a prolonged sales slump that saw earnings per share decline 62 percent from its May 2024 peak. Hill’s sport offensive strategy, which refocuses on athlete-driven design and rebuilding retail partnerships, has lifted North American revenue growth by 15 percentage points from its lowest point under his predecessor. The upcoming World Cup, where Nike outfits 12 teams and competes with Adidas through high-profile ad campaigns, is seen as a critical global test of Hill’s efforts to rejuvenate the brand’s sports culture and drive demand.
Nike IncNike reported quarterly earnings that beat Wall Street expectations, with adjusted EPS of 20 cents vs 13 cents expected and revenue above forecasts.
adidas AGAdidas is mentioned as a competitor in the World Cup context, but the article focuses on Nike's performance and strategy, not Adidas's.