Nike Inc. is set to report its worst revenue fall in five years due to stagnant demand in the global market, according to sources close to the matter. The sports apparel giant is expected to face a significant decline in sales for the third quarter.
The slump in sales comes as consumers increasingly turn to budget-friendly alternatives and the ongoing pandemic continues to affect consumer spending habits. Nike’s revenue has been declining steadily over the past year, with some analysts predicting an even sharper drop this quarter.
Nike’s poor performance is not unique to the company, however, with many major retailers facing similar challenges in recent months. The situation highlights the impact of macroeconomic conditions on consumer demand and the retail sector as a whole.
The expected revenue fall will have significant implications for Nike’s bottom line and may lead to further layoffs and cost-cutting measures to stay competitive. As one of the world’s largest sports apparel brands, Nike’s financial performance will be closely watched by investors and analysts alike.
Source: https://www.reuters.com/business/retail-consumer/nike-post-worst-revenue-fall-5-years-stagnant-demand-2025-03-19