Nike's Snoafer Listed for $500 Before It's Even Released
The online frenzy surrounding a Nike Inc. sneaker loafer that has yet to be officially launched has pushed resale prices past $500.
The Air Max Phenomena is joining the so-called 'snoafer' trend that took off last year, according to sneaker website Hypebeast. The shoes, which have a loafer upper and sneaker bottom, were initially panned, but have since become a hit for New Balance, Puma and Hoka with their mixing of comfort and office looks.
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This Zacks Rank #3 (Hold) company's shares have lost 1.2% in the past three months against the industry's 0.1% gain. Image Source: Zacks Investment Research NIKE Brand revenues of $10.8 billion declined 11% year over year on a reported and currency-neutral basis. Results were affected by decreases in all geographies. We estimated total NIKE Brand revenues to decrease 15.4% year over year to $10.3 billion in the fiscal fourth quarter due to an 11.8% decline in Direct-to-Consumer and an 18% fall in the Wholesale the NIKE Brand, revenues in North America declined 11% year over year to $4.7 billion. Sales at NIKE Direct were down 14% in the region, including a 25% decrease at Nike Digital offset by a 3% increase at NIKE Stores. North America advanced its efforts to clean up the marketplace and shift Nike Digital to a full-price strategy. Wholesale sales declined 8% year over year in North America. Wholesale is gaining momentum, fueled by new and compelling product offerings. led by favorable shipment timing and higher shipments to value EMEA, the company's revenues declined 9% year over year on a reported basis and 10% on a currency-neutral basis to $3 billion. Wholesale business revenues fell 4% year over year. NIKE Direct revenues for the segment declined 19%, with a 36% decrease at NIKE Digital being offset by 5% growth in NIKE Stores. NIKE, Inc. price-consensus-eps-surprise-chart | NIKE, Inc. Quote In Greater China, revenues dropped 21% year over year on a reported basis and 20% on a currency-neutral basis to $1.5 billion. NIKE Direct fell 15%. NIKE Digital revenues dropped 31% year over year and NIKE stores decreased 6%. Wholesale revenues for the region declined 24% year over APLA, revenues fell 8% year over year on a reported basis and 3% on a currency-neutral basis to $1.6 billion. NIKE Direct dipped 1% due to a 6% decline in NIKE Digital, negated by a 4% rise in NIKE stores. Wholesale revenues declined 5% in the at the Converse brand dropped 26% on a reported and currency-neutral basis to $357 million. The decline was due to softness across all territories. NIKE's gross profit declined 21% year over year to $4.5 billion, while the gross margin contracted 440 basis points (bps) to 40.3%. The gross margin decline was caused by increased wholesale discounts, higher discounts in Nike factory stores, supply chain cost deleverage and changes in channel mix. We anticipated the gross margin to decline 450 bps to 40.2%.Selling and administrative expenses rose 1% to $4.1 billion. As a percentage of sales, SG&A expenses increased 500 bps year over year to 37.4%. The rise in SG&A expenses rate was led by higher demand creation expenses, offset by reduced operating overhead expenses. Our model predicted SG&A expenses of $4.2 billion, indicating a rise of 2.4% year over creation expenses increased 15% year over year to $1.3 billion, led by higher brand and sports marketing expenses. Operating overhead expenses were down 3% year over year to $2.9 billion on reduced wage-related expenses, lower other operating costs and restructuring charges in the year-ago model predicted demand creation expenses of $1.2 billion, indicating a year-over-year rise of 12.2%. Operating overhead expenses were anticipated to decline 1.1% year over year to $2.96 billion. NIKE ended fiscal 2025 with cash and cash equivalents of $7.5 billion, down nearly 24% year over year. Short-term investments totaled $1.7 billion, down 2% year over year. As of May 31, 2025, the company had a long-term debt (excluding current maturities) of $7.96 billion and shareholders' equity of $13.2 of May 31, inventories totaled $7.5 billion, flat year over year. The company ended fiscal 2025 in line with its plans and remains on track to exit the first half of fiscal 2026 with a healthy and clean inventory position. NIKE plans to continue liquidating excess inventory through value stores and select partners in the next two quarters. In the second half of fiscal 2026, the company expects a modest revenue headwind, as it laps the prior year's aggressive the fiscal fourth quarter, the company returned $0.8 billion to shareholders, including $202 million in share repurchases and $591 million in dividends. In fiscal 2025, the company returned $5.3 billion to shareholders, including $3 billion in share repurchases and $2.3 billion in dividends. As of May 31, NIKE repurchased 122.6 million shares for $12 billion, as part of its four-year $18-billion share repurchase program approved in June 2022. While NIKE remains committed to providing quarterly guidance in the transition period, management provided additional perspective on how its "Win Now" initiatives are expected to shape the key aspects of its financial performance throughout fiscal 2026. The company is witnessing growing momentum in its new product franchises. With the holiday order book now in hand, the company has increased visibility into the next phase of its product portfolio transition. It noted that the holiday order book is up year over year for fiscal 2026, with growth in North America, EMEA and APLA partially offset by Greater fiscal 2025, NKE made meaningful progress in scaling down its classic footwear franchises, which declined more than 20% year over year. These declines accelerated in the fiscal fourth quarter, exceeding 30% and creating an almost $1 billion revenue headwind. Classic styles also declined 10 percentage points from peak levels, as a percentage of the company's total footwear mix. The company expects these headwinds to persist through the first half of fiscal 2026. The company is starting to see signs of stabilization in Air Force 1, although it plans for deeper reductions in the Dunk company expects digital traffic to be down in double digits in fiscal 2026 as it repositions NIKE Digital as a full-price model and reduces the mix of its classic footwear franchises. Additionally, the company is seeing encouraging signs of progress in the marketplace with its wholesale fiscal 2026, NIKE expects SG&A expenses to increase by low single digits as it strategically invests to reignite growth across the business. A key area of focus is demand creation, where NKE is ramping up efforts to reconnect with consumers and reenergize brand engagement. The company is also actively rebuilding both sport and commercial offense to better position itself for long-term the same time, the company remains mindful that SG&A has deleveraged compared with historical levels. Looking ahead, the company's priority is to return the business to sustainable, organic sales growth, supported by improving gross margins and a disciplined approach to expense management. This balance between investing for future growth and maintaining cost efficiency will be critical in strengthening its overall financial performance. NIKE also outlined its guidance for first-quarter fiscal 2026. It projects fiscal first-quarter revenues to decline in mid-single digits. The gross margin is expected to contract nearly 350-425 bps, comprising a 100-bps negative impact from the new tariffs, based on the currently prevailing forecasts SG&A dollars to be up in low single digits. The company predicts other income and expenses, including net interest income, to be $0-$10 million for the fiscal first quarter. Management expects the tax rate to be 19-20%, driven by anticipated changes in earnings mix. 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(SPWH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
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Nike Stock Soars 15% One Day After CEO Says He Expects Business to Improve — ‘It's Time to Turn the Page'
Nike Inc.'s stock soared 15 percent and closed at $72.04 per share on Friday, one day after president and chief executive officer Elliott Hill told investors that the worst is behind them. 'The results we're reporting in Q4 and in fiscal year 2025 are not up to the Nike standard,' Hill told analysts on the company's earnings call on Thursday. 'But as we said 90 days ago, the work we're doing to reposition the business through our Win Now actions is having an impact. From here, we expect our business results to improve. It's time to turn the page.' More from WWD Kobe Bryant's Nike Air Force 1 Will Soon Celebrate His Favorite Soccer Team The Best Nike Sneakers Releasing in July Nike CEO Says Q4 Results 'Are Not Where We Want Them to Be' Amid Turnaround Push The CEO then added that early feedback to Nike's product pipeline from its wholesale partners 'has been positive.' 'Our order book is improving sequentially, with our holiday orders up,' Hill said. 'We're finding a better balance with our portfolio of sport performance and new dimensions of sportswear, expected to offset the declines in our classic franchise with wholesale partners.' As discussed for months now, Nike has been working to clean up its distribution of the oversaturated Air Force 1, Jordan 1 and Dunk models. Now, the CEO is touting some newness in the sportswear side of the business with Vomero 5, P-6000, Shox, SuperFly, Air Max Muse and Air Max 95. On Thursday's call, Hill mentioned that the Vomero sneaker has already become a $100 million business with growth in all geographies. This comes as the company reported net income in the fourth quarter of fiscal 2025 fell 86 percent to $211 million from $1.5 billion in the year-ago period. Diluted earnings per share dropped to 14 cents from 99 cents. And sales tallied $11.1 billion, down 12 percent from $12.6 billion. Looking at the full fiscal year, Nike reported revenues of $46.3 billion, down 10 percent. Net income dropped 44 percent to $3.2 billion. 'I believe we have everything we need to win and we are ready for the new fiscal year,' Hill added. 'We're laser-focused on what we can control, inspiring and innovating for the 8 billion consumers we have the privilege to serve. We know what it will take to set off the next wave of growth for Nike. From here, it's on us to get back to executing at the level we expect.' Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Wimbledon 2025: Coco Gauff is just 21 but already thinking about what to do after tennis
LONDON (AP) — To be clear, Coco Gauff didn't bring up the word 'star' during a recent interview with The Associated Press; the reporter did. So as Gauff began to answer a question about balancing her life as a professional athlete with her off-court interests, she caught herself repeating that term. 'I definitely didn't know how it would look like,' she began with a smile, 'before I got to be, I guess, a star — feels weird to call myself that — but I definitely did want to expand outside of tennis. Always. Since I was young.' She still is young, by just about any measure, and she is a really good tennis player — Gauff owns the Grand Slam titles and No. 2 ranking to prove it as she heads into Wimbledon, which begins Monday — but the 21-year-old American is also more than that. Someone unafraid to express her opinions about societal issues. Someone who connects with fans via social media. Someone who is the highest-paid female athlete in any sport, topping $30 million last year, according to with less than a third of that from prize money and most via deals with companies such as UPS, New Balance, Rolex and Barilla. Someone who recently launched her own management firm. And someone who wants to succeed in the business world long after she no longer swings a racket on tour. 'It's definitely something that I want to start to step up for post-career. Kind of start building that process, which is why I wanted to do it early. Because I didn't want to feel like I was playing catch-up at the end of my career,' said Gauff, who will face Dayana Yastremska in the first round at the All England Club on Tuesday. 'On the business side of things, it doesn't come as natural as tennis feels. I'm still learning, and I have a lot to learn about," Gauff said. "I've debated different things and what paths I wanted to take when it came to just stimulating my brain outside of the court, because I always knew that once I finished high school that I needed to put my brain into something else.' In a campaign announced this week by UPS, which first partnered with Gauff in 2023 before she won that year's U.S. Open, she connects with business coach Emma Grede — known for working with Kim Kardashian on Skims, and with Khloe Kardashian on Good American — to offer mentoring to three small-business owners. 'Coco plays a key role in helping us connect with those younger Gen-Z business owners — emerging or younger entrepreneurs,' Betsy Wilson, VP of digital marketing and brand activation at UPS, said in a phone interview. 'Obviously, she's very relevant in social media and in culture, and working with Coco helps us really connect with that younger group.' While Grede helped the entrepreneurs, Gauff also got the opportunity to pick up tips. 'It's really cool to learn from someone like her,' Gauff said. 'Whenever I feel like I'm ready to make that leap, I can definitely reach out to her for advice and things like that. ... This will help me right now and definitely in the long term.' ___ Howard Fendrich has been the AP's tennis writer since 2002. Find his stories here: More AP tennis:
