Footwear revenues down by 9% for Nike and by 17% for Converse
Sports group Nike has announced revenues of $35.2 billion for the first three quarters of its current financial year, the nine-month period ending February 28, 2025. This represents a fall of 9% compared to the same months in the last year financial year.
Breaking down the $35.2 billion, the group explained that its Nike brand had achieved total revenues of $33.9 billion, down by 9% year on year, while its Converse brand contributed $1.3 billion, a decline of 17%.
Nike reported just under $15 billion in revenues in North America, of $9.2 billion in Europe, of $5.1 billion in China and of $4.7 billion in the rest of Asia and Latin America. There were falls in all four regions, of 8%, 10%, 10% and 7%, respectively.
Footwear accounted for $22.3 billion of global Nike revenues, down by 11%. For apparel, the figure was $9.9 billion, down by 5%. Equipment revenues were up, rising by 8% to $1.6 billion.
Chief finance officer, Matthew Friend, said: “The operating environment is dynamic, but what matters most for Nike is serving athletes with product innovation and re-igniting brand momentum through sport.”
