Nike: the brand reset has to show up in gross demand, not just inventory cleanup

Nike reported FY2025 revenue of $46.3 billion and Q3 FY2026 revenue of $11.3 billion. The thesis depends on product heat, wholesale discipline, China demand, margin repair and cash conversion.

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Nike reported FY2025 revenue of $46.3 billion and Q3 FY2026 revenue of $11.3 billion. The thesis depends on product heat, wholesale discipline, China demand, margin repair and cash conversion.

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SEC datasetSEC company tickers exchange datasetRetrieved 2026-05-19 · Issuer identity, ticker, exchange and CIK SEC APISEC submissions APIRetrieved 2026-05-19 · Filing chronology and company identity SEC XBRL APISEC companyfacts APIRetrieved 2026-05-19 · Financial statement cross-checks Annual reportFY2025 Form 10-K filed 2025-07-172025-2026 · Annual business, risk and financial baseline Quarterly reportLatest Form 10-Q filed 2026-04-012026 · Latest interim financials and balance sheet Form 8-KForm 8-K filed 2026-03-312026 · Recent filing chronology and update context Proxy statementProxy statement filed 2025-07-172025-2026 · Governance and incentive framing