🔹 EPS: $0.78 (Est. $0.65) 🟢; DOWN -24% YoY
🔹 Revenue: $12.4B (Est. $12.11B) 🟢; DOWN -8% YoY
Q2 Segment Performance:
🔹 Nike Brand Revenue: $12.0B (Est. $11.65B) 🟢; DOWN -7% YoY
🔹 North America: $5.01B (Est. $5.01B) 🟡
🔹 Europe, Middle East, & Africa (EMEA): $3.26B (Est. $3.26B) 🟡
🔹 Greater China: $1.75B (Est. $1.75B) 🟡
🔹 Asia Pacific & Latin America (APLA): $1.62B (Est. $1.62B) 🟡
🔹 Converse Revenue: $429M (Est. $462.6M) 🔴; DOWN -17% YoY
Q2 Channel Revenue:
🔹 Nike Direct: $5.0B; DOWN -13% YoY
🔹 Nike Digital: DOWN -21% YoY
🔹 Nike-Owned Stores: DOWN -2% YoY
🔹 Wholesale: $6.9B; DOWN -3% YoY
Q2 Margins and Expenses:
🔹 Gross Margin: 43.6% (Est. 43.3%) 🟡; DOWN 100 bps YoY
🔹 SG&A Expense: $4.0B (Est. 34.0% of Revenue) 🟡; DOWN -3% YoY
🔹 Demand Creation Expense: $1.1B (Est. $1.20B) 🔴; UP +1% YoY
🔹 Demand Creation as % of Revenue: 8.9% (vs. 9.9% Est.)
🔹 EBIT Margin: 9.7% (Est. 9.3%) 🟡
Key Metrics:
🔹 Net Income: $1.2B; DOWN -26% YoY
🔹 Inventories: $8.0B; Flat YoY
🔹 Cash & Equivalents: $9.8B; DOWN ~$200M YoY
Shareholder Returns:
🔹 Dividends Paid: $557M; UP +7% YoY
🔹 Share Repurchases: $1.1B (13.1M shares retired)
🔸 Total Shares Repurchased Under $18B Program: 112.8M shares (~$11.3B total)
CEO Elliott Hill's Commentary:
🔸 "Our clear priority is to return sport to the center of everything we do. We’re taking immediate action to reposition our business and reignite brand momentum through sport.”
CFO Matthew Friend's Commentary:
🔸 "Q2 results largely met expectations as we continue to shift our portfolio. Under Elliott’s leadership, we are accelerating momentum and making strategic progress."