Nike (NKE) stock fell almost 14% on Friday in early pre-market trading after the retailer said it expects revenue to decline more than previously thought in the coming year.
The company said Thursday it expects revenue to fall mid-single digits in 2025, including an expected 10% decline in the first quarter. Nike had initially guided for overall sales growth in 2025.
The guidance reflects a continuing trend from Nike’s fiscal 2024 fourth quarter, which the shoemaker reported after the closing bell on Thursday. The company said quarterly revenue in the fourth quarter fell 2% from the year prior to $12.61 billion, below Wall Street’s estimates for $12.86 billion. Meanwhile, Nike’s $0.99 earnings per share exceeded analysts’ expectations of $0.66. Nike’s direct-to-consumer sales declined 8% from the same quarter a year ago to $5.1 billion.
“Fiscal [2025] will be a transition year for our…
