Nike veteran, Elliot Hill, was drafted in as the new CEO of Nike back in September 2024 to steer the swoosh back to the top with their latest “Win Now” strategy.
With increasing competition from new kids on the block like Hoka & On, Trump’s tariffs & a cost of living crisis, Hill’s task has certainly not been an easy one. For its latest quarter the Beaverton based brand has reported a 12% sales decline of $11.1 billion for Q4 2025 compared to $12.6 billion from the same period last year. Narrowly beating Wall Street analyst expectations of $0.13 per share, Nike’s diluted earnings per share for the quarter dropped from $0.99 to $0.14. As much as a turnaround like this can take years (literally) after Nike (NKE) stock reached its lowest value in 10 years in 2024, Nike CEO Elliot Hill believes they are on the right track but “not where they want to be”. Net income for the quarter fell by 86% to $211 million compared to $1.5 billion from the same period last year.
Regionally Nike saw a decline across all regions for Q4 2025 with direct revenues declining by 14% to $4.4 billion. Nike’s wholesale channel, which the brand has been trying to rebuild, also saw a decline of 9% to $6.4 billion for the quarter. By category total revenue for footwear dropped by 13% to $7.2 billion & apparel sales also fell by 10% to $3 billion. For full fiscal 2025, Nike’s total revenue was $46.3 billion which was down 10% compared to last year and their net income was down by 44% to $3.2 billion. Also don’t forget to subscribe to KULT & follow @kult_recruit to keep up to date with all the latest industry news.
Moving forward, we expect our business to improve as a result of the progress we’re making through our Win Now actions, As we enter a new fiscal year, we are turning the page and the next step is aligning our teams to lead with sport through what we are calling the sport offense. This will accelerate our Win Now actions to reposition our business for future growth.
Elliot Hill – CEO Nike
