Overview

• Nike now projects $1.5 billion in tariff expenses for the current fiscal year, up from $1.0 billion estimated three months ago.
• For the quarter ended August, revenue rose 1% to $11.7 billion and topped forecasts, while net profit fell 31% to $727 million.
• Elliott Hill said refreshed Vomero, Structure and Pegasus lines boosted running-category sales by more than one-fifth.
• The company remains exposed because much of its production is in Asia, and it is unclear how much of the higher costs will be passed to U.S. consumers.
• Shares gained 3.4% after hours as CFO Matt Friend cautioned that progress will vary by business and inventories edged down 2% to $8.1 billion.