“While we are seeing near-term traffic impact as we reduce promotional activity in paid media, we believe these shifts will elevate the total marketplace over time.”

In context

“Dodgers Won the World Series, our brand storytelling owns the moment. In EMEA, Q2 revenue declined 10%. NIKE Direct declined 20%, with NIKE Digital down 32% and NIKE stores up 3%. Wholesale declined 4% and EBIT declined 10% on a reported basis. We continue to build momentum in sport performance led by strong growth in men's and kids global football. Men's and women's running return to growth, and all three of our top performance franchises in EMEA, Mercurial, Pegasus and Phantom grew double-digits. In sportswear, we are seeing momentum from newer franchises, including shocks, Vomero 5, LD-1000 and P-6000. In addition, we moved first in EMEA to reposition NIKE Digital as a premium platform. This quarter, full price realization improved with a strong double-digit decline in off-price sales. While we are seeing near-term traffic impact as we reduce promotional activity in paid media, we believe these shifts will elevate the total marketplace over time. In Greater China, Q2 revenue declined 11%. NIKE Direct declined 7%, with NIKE Digital down 4% and NIKE stores down 8%. Wholesale was down 15%. EBIT declined 27% on a reported basis. In Q2, we experienced another quarter of retail traffic declines in a difficult macro environment. This quarter also required higher markdown activity to drive sell-through and inventory velocity, which negatively affected gross margins. In a competitive environment, NIKE's focus is on serving consumers with product innovation and brand inflation and fueling the growth of sport in China. This quarter, Ja 2 launched with strong sell-through. Pegasus 41 top sales in women's running and new ACG apparel releases created social bus. We also continue to see strong full price demand with lower markdowns and higher ma”