Nike (NKE) Q3 2025 Earnings Call Transcript

Nike (NKE -1.90%)
Q3 2025 Earnings Call
Mar 20, 2025, 5:00 p.m. ET

Contents:

• Prepared Remarks
• Questions and Answers
• Call Participants

Prepared Remarks:

Operator

Good afternoon, everyone. Welcome to NIKE, Inc. fiscal 2025 third-quarter conference call. For those who want to reference today’s press release, you’ll find it at investors.nike.com.

Leading today’s call is Paul Trussell, vice president of corporate finance and treasurer. Now, I’d like to turn the call over to Paul Trussell.

Paul Trussell — Vice President, Investor Relations and Strategic Finance

Thank you, operator. Hello, everyone, and thank you for joining us today to discuss NIKE, Inc.’s fiscal 2025 third-quarter results. Joining us on today’s call will be NIKE, Inc. president and CEO, Elliot Hill; and our CFO, Matt Friend.

Before we begin, let me remind you that participants on this call will make forward-looking statements based on current expectations, and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in NIKE’s reports filed with the SEC. In addition, participants may discuss non-GAAP financial measures and nonpublic financial and statistical information. Please refer to NIKE’s earnings press release or NIKE’s website, investors.NIKE.com for comparable GAAP measures and quantitative reconciliations.

All growth comparisons on the call today are presented on a year-over-year basis and are currency-neutral unless otherwise noted. We will start with prepared remarks and then open up for questions. We would like to allow as many of you to ask questions as possible in our allotted time, so we would appreciate you limiting your initial question to one. Thanks for your cooperation on this.

I’ll now turn the call over to NIKE, Inc. president and CEO, Elliott Hill.

Elliott Hill — President and Chief Executive Officer

Thank you, Paul. Good afternoon, everyone. I’ll start by saying I’m proud of the progress we made against the key actions we committed to 90 days ago. While we met the expectations we set, we’re not satisfied with our overall results.

We can and will be better. For the quarter, the big takeaway for me was clear. When we lead with sport, we create impact for NIKE. We told inspiring athletes’ stories.

We brought more energy to sports’ biggest moments, and we introduced performance product across an integrated marketplace. We delivered something new to the consumer week after week. And that’s exactly the kind of sustained pace we need to strengthen our business. Last quarter, I shared my initial observations and where we need to focus.

The last 90 days only reinforced my early assessment of the areas that are most important. Since our last call, I continue to meet with wholesale partners to discuss the distinct role each can play with NIKE. I also had an incredibly inspiring trip to visit factory partners and NIKE teammates in Asia to see how we’re executing in our supply chain with a focus on production for our new innovation. Most importantly, I continue to spend meaningful time with our NIKE teammates.