Nike expected to post sales decline as it navigates tariffs, turnaround strategy
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…
