Nike Sales Dip as It Awaits $986 Million Tariff Refund

Nike is expecting an “unplanned benefit” in the form of a nearly $1 billion tariff refund. The sneaker giant revealed the refund when announcing full-year and quarterly earnings this week, even as CEO Elliott Hill warned that tariffs remain a “dynamic cost headwind.” The earnings showed full-year revenues of $46.4 billion, flat on a reported basis and a 2% decline on a currency-neutral basis. Fourth-quarter revenues came to $11 billion, down 1% on a reported basis and falling 4% on a currency-ne