(Automated translation by Reuters, please see disclaimer
October 1 – ** Shares of Nike NKE.N rose 0.84% to $89.14 on Tuesday, bucking the market’s slide, ahead of its scheduled quarterly earnings release after the closing bell
** Investors and analysts expect NKE to lower its annual sales forecast in first earnings report since Elliot Hill took the helm as chief executive earlier this month
** After a surprise drop in annual sales in June, analysts expect first-quarter revenue to fall 10% to $11.65 billion, the biggest decline in more than four years, and earnings per share fell 44.7% to 52 cents
**NKE faces increased competition from nimbler rivals such as Hoka de Deckers DECK.N and On
ONON.N, supported by Roger Federer.
**NKE has missed revenue in 3 of the last 8 quarters, including 3 of the last 4; When it comes to EPS, NKE has only missed revenue once, in Q4 2023
**42 analysts cover NKE, rating it an average of ‘BUY’ with a median PT of $94.50, according to LSEG data
**NKE options imply a 7.1% move for stocks, in either direction by Friday, according to Trade Alert data
**NKE is down about 18% year to date, compared with a gain of about 12% for the S&P 500 Consumer Discretionary Index .SPLRCD.
