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Nike Inc. (NKE+2.54%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing includes financial statements for the quarter, showing a decrease in revenues to $11.3 billion from $12.4 billion in the same quarter the previous year. The decrease is attributed to lower revenues in key regions and product segments.
Gross margin for the quarter decreased by 330 basis points to 41.5%, primarily due to lower average selling prices and higher inventory obsolescence reserves.
Net income for the quarter was $794 million, down from $1,172 million in the previous year. Earnings per share were $0.54, compared to $0.77 in the previous year.
Nike Direct revenues were $4.7 billion, representing approximately 43% of total Nike Brand revenues, with a decrease in digital sales and comparable store sales.
Cash provided by operating activities was $3,235 million, while cash used in investing and financing activities was $289 million and $4,176 million, respectively.
Nike repurchased 34.4 million shares of its Class B Common Stock for $2,753 million under its ongoing share repurchase program.
The filing also details various financial agreements, including new credit facilities and the repayment of $1.0 billion in notes due 2025.
Nike continues to navigate external factors such as geopolitical dynamics and foreign exchange rate fluctuations, which may impact future revenues and profitability.
The company is focused on reducing inventory supply and repositioning its digital platforms as part of its strategic initiatives to drive long-term growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nike Inc. quarterly 10-Q report dated April 3, 2025. To report an error, please email earnings@qz.com.