{"id":66331,"date":"2023-09-28T06:31:17","date_gmt":"2023-09-28T10:31:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nike-reports-earnings-today-heres-what-to-expect\/"},"modified":"2023-09-28T06:31:20","modified_gmt":"2023-09-28T10:31:20","slug":"nike-reports-earnings-today-heres-what-to-expect","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=66331","title":{"rendered":"Nike Reports Earnings Today. Here&#8217;s What to Expect."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000755212\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Nike<br \/>\n       reports earnings after the market closes Thursday. Whether the company meets projections is a hotly debated topic up and down Wall Street. <\/p>\n<p>Analysts are projecting<br \/>\n        Nike<br \/>\n       (ticker: NKE) will post earnings of 76 cents on $13 billion in revenue for its fiscal first quarter. But with demand for athletic wear slowing, investors are split on what to expect when the results hit the wire. <\/p>\n<div class=\"paywall\">\n<p>\u201cNKE is one of the biggest battleground stocks in our coverage,\u201d wrote Rick Patel, analyst at Raymond James, in a Tuesday note to clients. Patel has an Outperform rating on the stock. <\/p>\n<p>Bearish investors are concerned that a slowdown in consumer spending across North America will weigh on the company\u2019s results.<br \/>\n        Foot Locker<br \/>\n       (FL) and<br \/>\n        Dick\u2019s Sporting Goods<br \/>\n       (DKS) both cut their full-year outlooks following lackluster second-quarter results, citing cautious consumers. Back-to-school sneaker sales, which initially got off to a strong start, have since fallen flat. <\/p>\n<p>\u201cOur consumer survey\u00a0results\u00a0indicate that U.S. consumers are likely to reduce spending ahead, with apparel and footwear being the most likely areas of pullback,\u201d wrote Jefferies analyst Randal Konik in a note downgrading Nike stock to Hold from Buy Monday. <\/p>\n<p>It doesn\u2019t help that the economy of one of Nike\u2019s biggest growth markets\u2014China\u2014is still sputtering. The macroeconomic headwinds in both of the company\u2019s largest markets could lead Nike\u2019s management team to lower their fiscal-second-quarter guidance, added Citi\u2019s Paul Lejuez. Lejuez has a Neutral rating on the stock. <\/p>\n<p>The bulls, such as Guggenheim\u2019s Robert Drbul, argue the stock price already reflects these concerns. Nike shares are off 24% this year, well below the<br \/>\n        S&amp;P 500<br \/>\n      \u2018s 11% gain. <\/p>\n<p>\u201cAt current levels, we believe the risk-reward ratio in the shares remains<br \/>favorable,\u201d Drbul wrote, adding that the stock was primed for a rally. Nike is a <em>Barron\u2019s<\/em>\u00a0stock pick.<\/p>\n<p>Drbul noted that the company has recently improved its inventory levels after several quarters of having too much in stock, which positions it well to navigate economic uncertainty. <\/p>\n<p>Telsey Advisory Group\u2019s Cristina Fernandez agrees. The company seems to be in a \u201cbetter inventory position than other brands,\u201d she says. It will, however, likely still have to discount some products through the holiday season to keep up with competitors who may still have overburdened inventories. <\/p>\n<p>Moreover, the Nike brand is still strong, she adds, with many wholesale partners, including<br \/>\n        Foot Locker<span>,<\/span><br \/>\n       recently commenting that Nike shoes were selling well. Fernandez has an Outperform rating on the stock.<\/p>\n<p>A slate of highly anticipated sneaker drops could extend that sales momentum through December, Drbul wrote, such as the new Jordan and Kobe models. <\/p>\n<p>The company could also benefit from fewer factors pressuring gross margins, Patel, the Raymond James analyst, pointed out. High freight costs and inventory levels, topped off by lockdowns in China, dragged margins lower in recent quarters. But these challenges have since eased and turned to tailwinds for the company, he added.<\/p>\n<p>\u201cWe think NKE is locked and loaded to show better earnings power when margin pressure eases,\u201d Patel wrote. <\/p>\n<p>Write to Sabrina Escobar at sabrina.escobar@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nike-earnings-stock-price-2cd27f83?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike reports earnings after the market closes Thursday. Whether the company meets projections is a hotly debated topic up and down Wall Street. Analysts are projecting Nike (ticker: NKE) will post earnings of 76 cents on $13 billion in revenue for its fiscal first quarter. But with demand for athletic wear slowing, investors are split [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":66332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-66331","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nike Reports Earnings Today. Here&#039;s What to Expect. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Nike reports earnings after the market closes Thursday. Whether the company meets projections is a hotly debated topic up and down Wall Street. 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