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Nike Beats Q3 Expectations but Faces Prolonged Recovery Challenges

Under CEO Elliott Hill's 'Win Now' strategy, Nike reports better-than-expected revenue and earnings, but sales declines persist in key markets like China and digital channels.

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Two women walk past a Nike store featuring its large illuminated swoosh logo and interior displays of sportswear and accessories on January 18, 2025 in Chongqing, China.
Nike sneakers are seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30. REUTERS/Mina Kim/File Photo
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Overview

  • Nike's Q3 2025 revenue reached $11.27 billion, exceeding analyst expectations of $11.01 billion, despite a 9% year-over-year decline.
  • Earnings per share (EPS) came in at $0.54, nearly doubling the forecasted $0.29, signaling early progress in the company's turnaround efforts.
  • Sales in Greater China dropped 17%, while digital sales fell 15%, highlighting continued challenges in key markets and channels.
  • CEO Elliott Hill's 'Win Now' strategy focuses on inventory clearance, product innovation, and sports-centric marketing to rebuild brand momentum.
  • Tariffs on Chinese imports and elevated inventory levels remain significant hurdles, with analysts projecting recovery to extend into fiscal 2026 or later.