Nike (NKE) stock plunged more than 17% out of the gate Friday after the footwear and apparel giant reported revenue for its fiscal fourth quarter that fell short of estimates and reduced its sales outlook for fiscal 2025.
In the three months ended May 31, Nike's revenue decreased 2% year-over-year to $12.6 billion, which included an 18.1% decline in sales of its Converse brand. The company's earnings per share (EPS), however, rose 53% to $1.01 from the year-ago period.
