Total Revenue

-12% " " " " "

Total Revenue declined from $12,606 million in Q4 2024 to $11,097 million in Q4 2025 primarily due to weaker performance in key segments such as NIKE Brand and Footwear. Previous challenges in driving unit sales, higher discounts, and adverse market conditions in regions like North America and Greater China contributed to this overall decline, despite Converse revenues increasing significantly. " " " " "

NIKE Brand Revenue

-11% " " " " "

The NIKE Brand Revenue dropped from $12,149 million in Q4 2024 to $10,763 million in Q4 2025 as declining sales across geographies – notably in North America and Greater China – and the impact of lower average selling prices and increased discounting eroded growth that had previously been supported by balanced product category performance. " " " " "

Converse Revenue

+640% " " " "

Converse Revenue surged dramatically from $48 million in Q4 2024 to $357 million in Q4 2025, largely due to an extremely low base in the prior year combined with a successful turnaround in product positioning and channel strategies that spurred robust growth. " " " "

Footwear Revenue

-22% " "

Footwear Revenue declined from $7,715 million in Q4 2024 to $6,036 million in Q4 2025, driven by an 8% drop in unit sales and lower average selling prices due to higher discounts and shifts in channel mix. Strategic pricing initiatives that were unable to fully offset aggressive discounting further contributed to the sharp decline. " "

North America Revenue

-11% " "

The North America Revenue decreased from $5,278 million in Q4 2024 to $4,703 million in Q4 2025 as falling NIKE Direct sales—including a steep decline in digital and comparable store sales—and lower Footwear performance, particularly within the Jordan Brand segment, outweighed gains in Apparel and wholesale shipments. " "

Greater China Revenue

-21% " "

Greater China Revenue dropped from $1,863 million in Q4 2024 to $1,476 million in Q4 2025 due to significant declines across key product categories such as Men’s, Women’s, and the Jordan Brand, coupled with reduced wholesale and direct channel performances amid a challenging macroeconomic environment and intensified competitive pressures in the region. " "