Nike (NKE) is expected to report results for its fiscal first quarter on Tuesday after the market close as the sneaker giant navigates a major turnaround strategy under CEO Elliott Hill, who took the helm last fall, and President Trump’s tariffs.

Wall Street analysts expect adjusted earnings per share to come in at $0.28, a decline of 60% from the prior-year period, according to data from Bloomberg. Revenue is expected to drop 4.9% to $11.02 billion.

In a call with investors in the previous quarter, CFO Matthew Friend said revenue would be down mid-single digits in the first quarter.

Revenue for its direct-to-consumer business, Nike Direct, is expected to decline 8.3% from a year ago to $4.3 billion. Wholesale revenue is…