Nike slips following Q4 sales beat

Nike dipped in after-hours trading Thursday despite the sneaker giant topping Q4 sales estimates.

Diluted earnings per share came in at $0.14, narrowly beating Wall Street’s forecast of $0.13. Revenue totaled $11.1 billion, besting expectations for $10.7 billion.

“While our financial results are in line with our expectations, they are not where we want them to be,” President and CEO Elliott Hill said.

The athletic giant has lost more than a third of its value over the past year amid cooling demand and tariff turmoil. Nike is now facing a 30% duty on goods imported from China. Meanwhile, North America, Nike’s biggest market, has seen softer sales as upstart sneaker and athletic wear brands gain traction.

Nike shares were down about 15% year to date heading into the report.

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