Overview
- Nike reported results on June 30 with adjusted EPS of $0.20 and nearly $11 billion in revenue, topping Wall Street estimates but showing a 1% drop in reported sales.
- On a currency‑neutral basis Q4 revenue fell about 4%, with Greater China plunging 17% which the company tied to excess inventory it is working to clear with retail partners.
- The company recognized a one‑time $986 million tariff benefit in Q4 that materially boosted reported profit and gross margin and does not reflect ongoing operating performance.
- Nike returned roughly $609 million in dividends in Q4 and about $2.5 billion to shareholders for fiscal 2026, including $2.4 billion in dividends and only $123 million in buybacks.
- Management gave cautious FY2027 guidance that expects sales declines in the first half and only modest margin improvement while promising a product‑led recovery with new sports footwear in H2, leaving investors and some analysts wary.