Nike Direct Revenues Were $4.7B, Down 13% On A Reported Basis And Down 12% On A Currency-Neutral Basis; Wholesale Revenues Were $6.4B, Down 8% On A Reported Basis And Down 7% On A Currency-Neutral Basis
Portfolio Pulse from Benzinga Newsdesk
Nike reported a decline in both direct and wholesale revenues for the recent period. Direct revenues were $4.7 billion, down 13% on a reported basis and 12% on a currency-neutral basis. Wholesale revenues were $6.4 billion, down 8% on a reported basis and 7% on a currency-neutral basis.
October 01, 2024 | 8:16 pm
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NEGATIVE IMPACT
Nike's direct and wholesale revenues have declined significantly, with direct revenues down 13% and wholesale revenues down 8% on a reported basis. This could indicate challenges in sales performance.
The decline in both direct and wholesale revenues suggests potential challenges in Nike's sales performance. This could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100