Nike: turnover of $24.1bn (+1%) and net profit of $1.5bn (-31%) in the first half of 2025-26

The Nike group posted a net profit of $1.519bn (€1.3bn as of 30/11/2025) in the first half (01/06 to 30/11/2025) of the 2025-26 financial year (01/06/2025 to 31/05/2026), "down 31% on a reported basis and flat on a currency-neutral basis" compared with the $2.214bn (€2.09bn as of 30/11/2024) generated in the first six months of 2024-25, announced the American equipment manufacturer on 18/12/2025.

The group's net profit had already seen a significant decline of 44% between 2023-24 and 2024-25, falling to $3.22 bn (€2.8 bn).

On a currency-neutral basis, revenue for the first half of 2025-26 is up slightly by 1% to $24.147bn (€20.8bn). The first two quarters of the 2025-26 fiscal year saw growth of 1% at constant exchange rates (Q1: $11.7bn / €10bn; Q2: $12.4bn / €10.7bn).

Gross margin declined at the end of the second quarter to 40.6% (41.4% for the half-year) "primarily due to higher tariffs in North America." Wholesale revenue is up 8% to $7.5bn (€7.1bn), while direct-to-consumer sales are down 9% to $4.6bn (€4.3bn), due to a 14% fall in e-commerce and a 3% drop in Nike-owned stores…