Overview

• Nike estimates Trump’s tariffs will add about $1 billion in costs this fiscal year, marking a new and meaningful headwind to its bottom line.
• The company will reduce China-sourced U.S. imports from roughly 16% to the high single-digit range by the end of fiscal 2026 and reallocate production globally.
• CFO Matthew Friend said targeted “surgical” price increases in the U.S. this fall will fully mitigate the tariff impact.
• In the fourth quarter ended May 31, revenue fell 12% to $11.1 billion—the lowest since mid-2022—while net income plunged 86% to $211 million.
• Shares surged over 15% after CEO Elliott Hill’s bullish messaging on the ‘Win Now’ turnaround plan signaled investor confidence in a recovery.