Nike is forecasting a rebound from slow sales and profits in the last quarter and despite $1 billion in added tariff costs on foreign goods of its sneakers and athletic gear. The company, headquartered in Beaverton,

By Joel Jose and Helen Reid (Reuters) -Nike shares surged 10% in premarket trading on Friday as an encouraging forecast and plans to reduce China production for U.S.-bound goods bolstered confidence in an ongoing turnaround effort at the sportswear giant.

Nike stock price witnessed a bumper opening on Friday as it surged 15% in early trading, a day after announcing its plans to shift the production away from China. The rally in Nike stock price came amid strong momentum on Wall Street with benchmark indices nearing record highs.

Net sales in fourth-quarter 2025 were $11.1 billion, down 12 percent from $12.6 billion at the same time last year.

Key Takeaways Nike shares surged 15% Friday after the shoe and athletic apparel maker beat estimates for the fourth quarter.Sales and profit fell less than expected year-over-year as new CEO Elliott Hill's turnaround plan progresses.

Nike, Inc.'s Q4 results show early progress with inventory stabilization and renewed strategies, sparking optimism. Click for my look at NKE stock prospects.

Nike said it would cut its reliance on production in China for the U.S. market to mitigate the impact from U.S. tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue,

Nike's shares jumped at the opening bell Friday after the company said it's shifting some production away from China. But it also warned that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes,

Nike said it's raising prices to offset $1 billion in tariff costs, while it works on diversifying its sourcing and reducing its reliance on China.

Nike stocks soared Friday, despite a 12% revenue slump in the fourth quarter. CEO Elliott Hill told analysts Thursday he expects a better fiscal year ahead, albeit one that begins with a tariff-fueled cost increase estimated at $1 billion.

Nike Inc.'s stock soared 15 percent and closed at $72.04 per share on Friday, one day after president and chief executive officer Elliott Hill told investors that the worst is behind them. "The results we're reporting in Q4 and in fiscal year 2025 are not up to the Nike standard,