With the big sportswear brands having now released their latest quarterly financial results, SportsPro rounds up the key numbers and highlights.
Nike
Revenue: Down 12% to US$11.1bn
Net income: Down 86% to US$211m
The net income for the period was Nike’s lowest since the fourth quarter of its 2020 financial year. The company also announced its full-year results, with revenue down ten per cent to US$46.3 billion and net income down 44 per cent to US$3.2 billion. While Nike president and chief executive Elliott Hill conceded the results were “in-line with our expectations” he added they were “not where we want them to be”.
The Oregon-headquartered brand says it is now turning its attention to the ‘sport offense realignment’ for its new fiscal year, which aims to align its teams more closely around sport.
For the full results, click here.
Adidas
Revenue: Up 2% to €5.95bn
Net income: Up 77% to €375m
Adidas chief executive Bjørn Gulden said he remained convinced that “being a global brand with a local mindset” was the right strategy for the company to be successful.
Despite a productive first half of the year, which has included operating profit jumping 70 per cent to €1.2 billion, Adidas cited a double-digit million euro hit from US tariffs in Q2 and warned that current import levies will push up the cost of its goods in the country.
The brand also stated that added costs associated with tariffs could total €200 million in the second half of 2025.
For the full results, click here.
Puma
Revenue: Down 8% to €1.94bn
Net loss: €247m (€41.9m net profit in Q2 2024)
Adjusted Ebit: -€13.2m (€117.2m in Q2 2024)
Puma is bracing itself for more challenges in 2025, citing the ‘volatile geopolitical and macroeconomic volatility’ as well as the US tariffs, which are expected to have a negative impact of around €80 million on gross profit this year.
The company, which replaced its chief executive Arne Freundt with Adidas’ former chief sales officer Arthur Hoeld in April, also lowered its 2025 outlook. Currency-adjusted sales are now forecast to decline low double-digit percentage and it is expecting a loss for earnings before interest and taxes (Ebit).
For the full results, click here.
Under Armour
Revenue: Down 4% to US$1.1bn
Net loss: US$2.6m (US$305.4m year prior)
Under Armour president and chief executive Kevin Plank, who returned to the company in April 2024, said the results “met or exceeded our expectations”.
Looking ahead, Baltimore-based Under Armour’s priorities include a focus on strengthening its brand positioning with premium products and increasing its average selling prices through new offerings.
For the next quarter, the company expects revenue to decline six per cent to seven per cent and operating income to range from a US$10 million loss to breakeven. This is due to ongoing uncertainty around trade policies and the broader macroeconomic environment.
For the full results, click here.
Note: All increases and decreases are year-over-year (YoY) unless otherwise stated.
By SportsProMedia
