Key Takeaways NKE's Q4 wholesale revenues fell 9%, up from a 12% drop in Q3 and outperforming NIKE Direct's 14% decline.Product launches with DICK'S and JD helped boost sell-throughs and reignite wholesale momentum.Holiday order growth and retail support hint at a rebound, but tariffs and inventory issues pose risks.NIKE Inc.’s (NKE) wholesale business is showing early signs of momentum, even as the company navigates a broader reset under its “Win Now” strategy. In fourth-quarter fiscal 2025, wholesale reve ...