Good morning. Nike held its Q1 2025 earnings call on Tuesday—without its outgoing CEO John Donahoe or its incoming CEO Elliott Hill participating. But the sneaker giant’s CFO, Matthew Friend, was on the call explaining Nike's latest tough quarter and its plans to avert further decline as it goes through transition.
For the three-month period that ended August 31, Nike's revenue declined 10% year over year to $11.6 billion. Nike Direct sales were down 13%. In addition, it had a 20% decline in digital revenue, and wholesale revenue fell 8%. But Nike stores were up 1%.
