What is the revenue and EPS growth rate for NIKE year over year?

What is NIKE's gross profit margin?

What were the key takeaways from NIKE's earnings call?

What is the market's earnings forecast for NIKE next quarter?

What does NIKE do and what are its main business segments?

What is NIKE's latest dividend and current dividend yield?

What guidance did NIKE's management provide for the next earnings period?

What factors drove the changes in NIKE's revenue and profit?

- **North America Dominance**: 9% revenue growth, Running up over 20%, NIKE Digital Black Friday record. Wholesale growth balanced across new and existing partners.
- **China Challenges**: 16% revenue decline, off-price selling cycle. Actions include inventory cleanup and store pilots, but recovery slow.
- **Tariff Headwinds**: $1.5B annualized impact, net 120bps reduction through pricing. Q3 gross margin down 175-225bps (excluding tariffs).
- **Strategic Focus**: Sport offense driving innovation pipeline (Nike Mind, Aero-FIT). Committed to double-digit EBIT margins, with North America leading recovery.

**【CEO Summary Section】**
- **Strategic Progress**: Highlighted progress in 'Win Now' actions and the 'sport offense' strategy, emphasizing athlete-centered innovation across 190 countries.
- **North America Growth**: Q2 revenue up 9%, driven by Running (over 20% growth), Basketball, and Training. NIKE Digital saw its best Black Friday with Jordan Black Hat launch success.
- **China Challenges**: Revenue down 16% due to off-price selling and aged inventory. Actions include store pilots, reduced sell-in plans, and inventory cleanup, but recovery expected to take time.
- **Product Diversification**: Rightsizing Classics franchises (down over $4B YoY) and expanding into SKIMS, Nike Mind, and Aero-FIT innovations.
- **Margin Focus**: Committed to double-digit EBIT margins, with North America showing early signs of margin recovery despite tariff headwinds.

**【CFO Financial Commentary】**
- **Q2 Results**: Revenue flat YoY (1% reported), NIKE Direct down 9%, Wholesale up 8%. Gross margin 40.6% (-300bps YoY) due to tariffs and China obsolescence.
- **Tariff Impact**: $1.5B annualized tariff headwind, net impact reduced to 120bps through pricing and cost management.
- **Q3 Guidance**: Revenue down low single digits, gross margin down 175-225bps (excluding 315bps tariff impact). SG&A up low single digits due to demand creation.
- **North America Momentum**: Wholesale growth and order book improvement, with confidence in sustaining momentum.

**【Q&A Highlights】**
- **Margin Recovery Timeline**: No specific timeline, but North America showing early signs. China and Converse expected to remain challenging in Q3.
- **China Reset**: Requires new capabilities and fresh approach; early store pilots show promise but progress slow.
- **Product Growth Drivers**: Running, SKIMS, and Basketball leading innovation pipeline. Order book up for back half of FY26.
- **Wholesale Impact**: Wholesale growth creates cost leverage, with focus on demand creation for long-term brand health.

NIKE, Inc. (NKE) Q2 2026 Earnings Call Transcript

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