Nike Revenue Dips 10% for FY25 Q1 Ahead of CEO Switcheroo!

Once again, Nike just hit us with some not-so-great news, fam…Yeah, it’s kinda wild month for the Swoosh. And here we don’t only mean the recent breakup-reunion drama with Tom Sachs. Nah, we have heartbreaking stats today. Basically, Nike revenue reported a %10 dip for FY25 Q1 just weeks after the new CEO, Elliot Hil, took over. Head-scratching, right? Especially since their earnings smashed market expectations! And just to throw a curveball, Nike’s also pushing back their Investor Day. So what’s really going on? And will this gonna stir things up in the sneaker game? Let’s find out!

And hey, if crunching numbers ain’t your vibe, just slide over to our blog for the dopest sneaker drops!

Nike Revenue on the Down Low: What’s Really Happening?

Let’s rewind to July for a hot second. As Q3 2024 kicked off, Nike stock took a nosedive, crashing by 20%—its worst record in 13 years! Analysts were bracing for impact, expecting this plunge after Nike projected a staggering 10% sales drop for Q1 2025. And bam, it’s official, which is pretty shocking, to be honest. We had high hopes with the recent CEO shuffle, but it seems things aren’t exactly smooth sailing.

So, here’s the lowdown: Nike’s FY25 Q1 numbers missed Wall Street’s revenue expectations but managed to hit their own earnings-per-share targets. The overall brand revenue came in at $11.1 billion, marking a 10% drop on a reported basis and a 9% decline when adjusting for currency fluctuations. 

Basically, this slump was fueled by declining sales in all regions. The brand’s product lineup has faced criticism for being too lifestyle-heavy and lacking innovation. As a result, Nike lost ground to long-time rival adidas and emerging players like HOKA and On.

Other notable figures from the report showed a 15% revenue drop for Converse (14% currency-neutral), which is under the Nike umbrella. There was also a slight bump in overall gross margin. Plus, Nike has decided to hit the pause button on its “Investor Day,” originally scheduled for November, likely to give Hill time to settle into his role before facing investors.

“These results largely met our expectations,” said Nike CFO Matthew Friend, adding that the company is “energized” as Hill gears up to take over as CEO on October 14. “A comeback of this magnitude takes time, but we’re seeing early wins.” So, what does all this mean for the Swoosh sneaker game?

How’s Nike’s Revenue Slump Gonna Hit Us?

As sneak freaks, we’re all asking ourselves what the Nike revenue crash implies about the future of Nike sneaker releases. But no need to stress fam! The Swoosh always knows how to bounce back stronger and flex even harder!

In fact, Nike’s 2025 sneakers drop looks to be hella spicy! From fresh SB Dunk collabs to fire new Travis Scott Jordans, collectors and resellers are rubbing their hands for real!

So, you better be ready and check out this ultimate sneaker-copping guide to score those exclusive drops with EASE. Catch ya later, fam!