The Nike Reset Is Here. Is the Stock a Buy?

It's no secret that Nike (NYSE: NKE) has struggled lately. The sportswear giant has posted several quarters of weak growth and even said that revenue would decline in fiscal 2025, which began in June. That was before the company ousted CEO John Donahoe, who is set to be replaced on Oct. 14 by longtime company executive Elliott Hill, who is coming out of retirement to take the job.In the middle of that transition, Nike reported fiscal first-quarter earnings Tuesday night. Wall Street was expecting a dismal quarter, and that's what Nike delivered with a double-digit decline in revenue, a rare occurrence for a blue-chip stock during a stable economy.Nike's revenue fell 10% to $11.6 billion, below estimates of $11.65 billion. Nike Direct revenue, which has been the company's focus under Donahoe, was down 13% to $4.7 billion with a 20% decline in Nike digital sales, showing it's rapidly losing market share to rivals like On Holding and Deckers' Hoka brand. Performance in its wholesale division wasn't as bad, but wholesale revenue still fell 8% to $6.4 billion. Revenue also fell in all four of its geographic regions. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool