Nike rises ahead of report as analysts expect shrinking sales
NKE•Nike shares rose 2% ahead of quarterly results, with analysts expecting revenue to fall 3% to $11.32 billion and adjusted earnings of 43 cents per share.
1. Quarterly outlook
Nike shares rose 2% ahead of results due after the bell. Analysts expect revenue to decline 3% to $11.32 billion and adjusted earnings per share of 43 cents, down from 49 cents a year earlier.
2. Brand pressures
The company faces competition from rivals. French soccer star Kylian Mbappe ended his two-decade partnership with Nike this month to join Swiss sportswear brand On.
