American sportswear company Nike sees sharp revenue decline in Q2 FY25

Nike reported a decrease in Q2 FY25 revenues to $12.4 billion, a decline of 8 per cent from Q2 of the previous fiscal, with significant drops in both Nike Direct and wholesale revenues.
Its gross margin fell to 43.6 per cent due to higher discounts and a shifting channel mix, although mitigated by reduced costs.
Net income dropped 26 per cent to $1.2 billion, and earnings per share were down 24 per cent.Read More