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Nike swings to Q4 profit on tariff refund boost, but China slump deepens
Key takeaways
- For Q4 ended 31 May 2026, revenue fell by 1% on a reported basis to $10.97bn and was down 4% on a currency-neutral basis.
- Gross margin increased by 890 basis points to 49.2%, mainly due to an approximately 900-basis point benefit from the anticipated recovery of International Emergency Economic Powers Act tariffs, valued at $986m.
- Diluted earnings per share increased to $0.72 from $0.14 a year earlier, including a $0.52 benefit related to the same tariff recovery.
Nike swings to Q4 profit on tariff refund boost, but China slump deepens Shubhendu Vimal Wed, July 1, 2026 at 5:07 PM GMT+7 2 min read NKE US sportswear retailer Nike reported full-year revenue of $46.39bn for fiscal year 2026, while fourth-quarter (Q4) profit rose on an expected tariff recovery alongside continued weakness in China and Europe.
For Q4 ended 31 May 2026, revenue fell by 1% on a reported basis to $10.97bn and was down 4% on a currency-neutral basis.
Gross margin increased by 890 basis points to 49.2%, mainly due to an approximately 900-basis point benefit from the anticipated recovery of International Emergency Economic Powers Act tariffs, valued at $986m.
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