NKE is trading at $50.63 (-4.18%) in after-hours trading as fiscal Q3 earnings revealed a 35% drop in EPS and persistent weakness in digital sales.
- Revenues of $11.3B beat estimates behind strength in Greater China, but gross margins contracted to 40.2% due to higher North American tariffs.
- NIKE Direct sales fell 7% on a currency-neutral basis, reflecting a continued struggle to maintain momentum in direct-to-consumer channels.
- The selloff reverses a +3.12% intraday gain to $52.84, as investor focus shifts from revenue beats to underlying profitability concerns.