Nike reported $11.3 billion in revenue for Q3 FY2025, down 9% YoY but exceeding market expectations of $11.02 billion. Direct-to-consumer sales reached $4.7 billion, with wholesale revenue at $6.2 billion. Greater China contributed $1.7 billion. Inventory fell 2% YoY to $7.5 billion, reflecting improved stock management. Despite this, Nike warned of a challenging Q4, with CFO Matt Friend predicting revenue to drop over 10%, potentially steeper than the forecasted 12% decline. Wei Dong, Chairman and CEO of Nike Greater China, noted the region’s accelerated transformation may impact short-term results but aims to build a healthier market foundation through improved inventory control and stronger partnerships.