Every sport is a fight for Nike, as revenues decline
Athletic footwear and apparel group Nike has reported full-year results for the 12 months ending May 31, 2025. Group revenues were $46.3 billion, a decline of 10% compared to the previous year.
Sales of Nike products contributed $44.7 billion, which represents a decline of 9% year on year.
Footwear sales accounted for $29.5 billion, down by 12%. Apparel brought in just under $13 billion, down by 6%, and equipment almost $2.2 billion, an increase of 6% year on year.
Nike revenues were down by 9% year on year in North America, falling to $19.6 billion. The figures for Europe were down by 10%, reaching $12.25 billion. For China, the decline was 13%, with revenues of $6.6 billion. And for the rest of Asia, combined with the rest of the Americas, the group gave a figure of $6.25 billion, down by 7%.
The Converse brand contributed almost $1.7 billion to the group’s total, down by 19% year on year.
Chief executive, Elliott Hill, who took up the role in October 2024, told analysts the results were not up to standard for Nike. He said the group was working to reposition its business around having distinct products for key sports.
“We are in a fight in every sport,” he said, “and each sport has different competitors.”
