BEAVERTON, Ore. — For the full stories on Nike’s most-recent financial performance, visit KGW’s news partner the Portland Business Journal here.
Since Nike’s earnings call Thursday, when it reported flat annual revenue and lowered its 2025 outlook, its stock has dropped to its lowest levels since the pandemic hit.
Before the Thursday afternoon call, Nike’s stock (NYSE: NKE) was sitting at $94.20. By noon Friday, its price fell to just below $75, representing a 20% drop in less than 24 hours. On March 16, 2020, Nike’s stock closed at $67.45.
Nike CEO John Donahoe told analysts Thursday that Nike expects 2025 to be a “transition year” and that first-quarter revenue could be down 10% and annual revenue likely will decline by mid-single digits.
“A comeback at this scale takes time,” Donahoe told analysts. In their post-earnings notes, some echoed that sentiment.
Nike’s fourth-quarter earnings report included flat annual revenue and a 2% decline in quarterly revenue.
The Beaverton-based apparel giant reported $51.36 billion in annual revenue, compared with $51.22 billion last year. This result was driven by flat direct-to-consumer revenue, flat wholesale revenue and a 14% drop in annual revenue from its Converse brand, which it blamed on a lackluster performance in North America and Western Europe.
