Nike revenues drop in first quarter under new CEO

Nike has reported a 9% drop in third-quarter revenues for fiscal 2025, with sales totaling $11.3bn (£9.1bn), down from $12.4bn (£10.1bn) last year.
On a currency-neutral basis, the decrease is slightly lower at 7%. This marks a continuation of the sportswear giant‘s struggles, as it faces slow consumer demand and declines across key markets.
Direct-to-consumer sales took a major hit, dropping 12%, while wholesale revenue also fell 7%.
The company’s performance was largely