{"id":20563,"date":"2025-12-22T11:57:20","date_gmt":"2025-12-22T18:57:20","guid":{"rendered":"https:\/\/footwearmagazine.com\/?p=20563"},"modified":"2025-12-22T12:04:45","modified_gmt":"2025-12-22T19:04:45","slug":"nike-north-american-wholesale","status":"publish","type":"post","link":"https:\/\/footwearmagazine.com\/?p=20563","title":{"rendered":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter"},"content":{"rendered":"

NIKE, Inc.<\/span><\/a> beat Wall Street expectations in its fiscal Q2 2026, powered by strong North America wholesale momentum even as margins and profits came under pressure. Revenue landed at $12.4 billion, topping forecasts and growing 1% year over year on a reported basis, while diluted EPS of $0.53 beat analyst estimates despite falling sharply versus last year.<\/span><\/p>\n

Revenue beats and EPS surprise<\/b><\/h3>\n

In fiscal <\/span>Q2 2026, NIKE<\/span><\/a> reported $12.4 billion in revenue, up 1% on a reported basis and flat on a currency-neutral basis, versus consensus expectations of around $12.2 billion. Earnings per share came in at $0.53, ahead of the roughly $0.37 forecast, representing an EPS beat of more than 40% even as earnings declined year over year.<\/span><\/p>\n

Net income fell 32% to about $0.8 billion, reflecting margin pressure from higher product costs, tariffs, and a more promotional environment. Gross margin contracted by 300 basis points to 40.6%, weighing on profitability even as top-line results outperformed expectations.<\/span><\/p>\n

North American momentum and channel shift<\/b><\/h3>\n

NIKE Brand revenues reached <\/span>$12.1 billion<\/span><\/a>, up 1%, driven primarily by growth in North America, partially offset by declines in Greater China and the APLA region. Wholesale was the standout: revenues climbed to $7.5 billion, up 8% on a reported and currency-neutral basis, fueled by stronger demand from key retail partners in North America.<\/span><\/p>\n

By contrast, NIKE Direct\u2014which includes owned stores and digital\u2014declined to $4.6 billion, down 8% reported and 9% on a currency-neutral basis. The company cited a 14% drop in NIKE Brand Digital sales and a 3% decline in NIKE-owned stores, underscoring a strategic pivot back toward wholesale to drive reach and inventory efficiency.<\/span><\/p>\n

Category and regional performance<\/b><\/h3>\n

Overall, NIKE revenues grew modestly, but the mix tells a more nuanced story. North America led recovery, benefiting from performance categories and key footwear and apparel franchises, while Greater China revenue declined in the mid-teens, pressured by weaker demand and inventory clean-up.<\/span><\/p>\n

Analysts noted that performance and running categories showed renewed strength, while some classic footwear lines saw double-digit declines as the brand resets franchises and channels. This reflects NIKE\u2019s broader \u201cresurgence\u201d strategy, which CEO Elliot Hill recently framed as a multi-quarter effort to restore sustainable growth and profitability.<\/span><\/p>\n

Outlook and margin headwinds<\/b><\/h3>\n

Looking ahead, NIKE expects continued gross margin pressure in Q3, guiding to a decline of around <\/span>175\u2013225 basis points<\/span><\/a> as higher product costs and tariffs remain a drag. At the same time, the company plans to keep investing in demand creation and sports marketing, with SG&A forecast to grow at a low single-digit rate.<\/span><\/p>\n

Despite the margin squeeze, management is leaning on North American wholesale momentum, product innovation, and tighter inventory to support a longer-term turnaround. The strong Q2 beat on both revenue and EPS gives NIKE more room to execute that plan, even as investors weigh near-term pressure in China and direct-to-consumer.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"NIKE, Inc. beat Wall Street expectations in its fiscal Q2 2026, powered by strong North America wholesale momentum…","protected":false},"author":219894229,"featured_media":20564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","pad_hide_post_author":"","csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1408,1,1540,1450],"tags":[1575,3086,3192],"class_list":{"0":"post-20563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-uncategorized","9":"category-news","10":"category-retail","11":"tag-nike","12":"tag-nike-earnings","13":"tag-q2-202","14":"cs-entry","15":"cs-video-wrap"},"yoast_head":"\nNike Hits $12.4 Billion As North American Wholesale Saves The Quarter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/footwearmagazine.com\/?p=20563\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter\" \/>\n<meta property=\"og:description\" content=\"NIKE, Inc. beat Wall Street expectations in its fiscal Q2 2026, powered by strong North America wholesale momentum…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/footwearmagazine.com\/?p=20563\" \/>\n<meta property=\"og:site_name\" content=\"Footwear Magazine\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/footwearmagazine\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-22T18:57:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-22T19:04:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"FM Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@footwearmag\" \/>\n<meta name=\"twitter:site\" content=\"@footwearmag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"FM Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#article\",\"isPartOf\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563\"},\"author\":{\"name\":\"FM Team\",\"@id\":\"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2\"},\"headline\":\"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter\",\"datePublished\":\"2025-12-22T18:57:20+00:00\",\"dateModified\":\"2025-12-22T19:04:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563\"},\"wordCount\":460,\"image\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#primaryimage\"},\"thumbnailUrl\":\"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png\",\"keywords\":[\"Nike\",\"Nike earnings\",\"Q2 202\"],\"articleSection\":[\"Business\",\"Industry\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563\",\"url\":\"https:\/\/footwearmagazine.com\/?p=20563\",\"name\":\"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter\",\"isPartOf\":{\"@id\":\"https:\/\/footwearmagazine.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#primaryimage\"},\"image\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#primaryimage\"},\"thumbnailUrl\":\"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png\",\"datePublished\":\"2025-12-22T18:57:20+00:00\",\"dateModified\":\"2025-12-22T19:04:45+00:00\",\"author\":{\"@id\":\"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2\"},\"breadcrumb\":{\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/footwearmagazine.com\/?p=20563\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#primaryimage\",\"url\":\"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png\",\"contentUrl\":\"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png\",\"width\":640,\"height\":427,\"caption\":\"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/footwearmagazine.com\/?p=20563#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/footwearmagazine.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/footwearmagazine.com\/#website\",\"url\":\"https:\/\/footwearmagazine.com\/\",\"name\":\"Footwear Magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/footwearmagazine.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2\",\"name\":\"FM Team\",\"url\":\"https:\/\/footwearmagazine.com\/?author=219894229\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/footwearmagazine.com\/?p=20563","og_locale":"en_US","og_type":"article","og_title":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter","og_description":"NIKE, Inc. beat Wall Street expectations in its fiscal Q2 2026, powered by strong North America wholesale momentum…","og_url":"https:\/\/footwearmagazine.com\/?p=20563","og_site_name":"Footwear Magazine","article_publisher":"https:\/\/www.facebook.com\/footwearmagazine","article_published_time":"2025-12-22T18:57:20+00:00","article_modified_time":"2025-12-22T19:04:45+00:00","og_image":[{"width":640,"height":427,"url":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","type":"image\/png"}],"author":"FM Team","twitter_card":"summary_large_image","twitter_creator":"@footwearmag","twitter_site":"@footwearmag","twitter_misc":{"Written by":"FM Team","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/footwearmagazine.com\/?p=20563#article","isPartOf":{"@id":"https:\/\/footwearmagazine.com\/?p=20563"},"author":{"name":"FM Team","@id":"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2"},"headline":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter","datePublished":"2025-12-22T18:57:20+00:00","dateModified":"2025-12-22T19:04:45+00:00","mainEntityOfPage":{"@id":"https:\/\/footwearmagazine.com\/?p=20563"},"wordCount":460,"image":{"@id":"https:\/\/footwearmagazine.com\/?p=20563#primaryimage"},"thumbnailUrl":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","keywords":["Nike","Nike earnings","Q2 202"],"articleSection":["Business","Industry","News","Retail"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/footwearmagazine.com\/?p=20563","url":"https:\/\/footwearmagazine.com\/?p=20563","name":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter","isPartOf":{"@id":"https:\/\/footwearmagazine.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/footwearmagazine.com\/?p=20563#primaryimage"},"image":{"@id":"https:\/\/footwearmagazine.com\/?p=20563#primaryimage"},"thumbnailUrl":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","datePublished":"2025-12-22T18:57:20+00:00","dateModified":"2025-12-22T19:04:45+00:00","author":{"@id":"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2"},"breadcrumb":{"@id":"https:\/\/footwearmagazine.com\/?p=20563#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/footwearmagazine.com\/?p=20563"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/footwearmagazine.com\/?p=20563#primaryimage","url":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","contentUrl":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","width":640,"height":427,"caption":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter"},{"@type":"BreadcrumbList","@id":"https:\/\/footwearmagazine.com\/?p=20563#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/footwearmagazine.com\/"},{"@type":"ListItem","position":2,"name":"Nike Hits $12.4 Billion As North American Wholesale Saves The Quarter"}]},{"@type":"WebSite","@id":"https:\/\/footwearmagazine.com\/#website","url":"https:\/\/footwearmagazine.com\/","name":"Footwear Magazine","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/footwearmagazine.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/footwearmagazine.com\/#\/schema\/person\/f0f9932f075a5518529515ae6b095fb2","name":"FM Team","url":"https:\/\/footwearmagazine.com\/?author=219894229"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/footwearmagazine.com\/wp-content\/uploads\/2025\/12\/l58oaedb.png","jetpack_shortlink":"https:\/\/wp.me\/pgrtCq-5lF","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/20563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/users\/219894229"}],"replies":[{"embeddable":true,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20563"}],"version-history":[{"count":0,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/20563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=\/wp\/v2\/media\/20564"}],"wp:attachment":[{"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/footwearmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}