Nike is slipping ahead of earnings

Giulia WhiteA pair of Nikes are inspected at Goat for authenticity.
  • Nike reports third-quarter results after the closing bell Thursday.
  • Wall Street expects earnings-per-share to decline, but revenue to rise.
  • Shares are down 0.74% early Thursday.
  • Follow Nike in real time here.

Shares of Nike are down 0.74% early Thursday as the sneaker giant gets set to report third-quarter earnings after the bell.

Wall Street expects earnings of $US0.53 a share on revenue of $US8.85 billion, Bloomberg data shows. That would mark an almost 22% year-over-year drop in earnings.

The company’s second-quarter results showed that, while it’s expanding internationally, demand in North America weakened. Still, Nike beat profit and sales estimates for that quarter.

Analysts are rather bullish on the stock, with 22 of them rating shares a “buy,” 15 saying to “hold,” and two suggesting to “sell.”

Thursday’s results come just a day after the company said that it had “acted swiftly” in correcting the behavioural issues of some of its managers and executives.

Nike is up 3.61% this year.

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