Nike Inc. (NKE) Skyrockets 15% as Sportswear Giant Thinks Worst is Over

NIKE, Inc. (NYSE:NKE) is one of the 10 Stocks Leave Wall Street Stunned.

Nike soared by 15.19 percent on Friday to end at $72.04 apiece, sparked by news that its sales slump had already hit rock bottom and that headwinds will “now start to moderate from here.”

In the fourth quarter of fiscal year 2025, NIKE, Inc.’s (NYSE:NKE) net income nosedived by 86 percent to $211 million from $1.5 billion in the same period last year. Revenues also dropped by 12 percent to $11.097 billion from $12.6 billion year-on-year.

For the full-year period, net income declined by 44 percent to $3.219 billion from $5.7 billion, while revenues decreased by 10 percent to $46.309 billion from $51.362 billion.

Commenting on the performance, NIKE, Inc. (NYSE:NKE) President and CEO Elliott Hill said that the results were in line with expectations, but were “not where we want them to be.”

For his part, NIKE, Inc. (NYSE:NKE) CFO Matthew Friend said that he expects headwinds to start to moderate.

“I am confident in our ability to navigate through this current dynamic and uncertain environment by focusing on what we can control and executing our Win Now actions,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.