Nike Inc. is poised to release its earnings tomorrow after the market closes, with BMO's Simeon Siegel providing insights on what to expect. Post-earnings, Nike shares typically experience an intraday decline, as noted by Bank of America. TD Cowen emphasized the necessity for Nike to enhance its marketing strategy outside of basketball, indicating that the brand's high-end innovations are not meeting consumer expectations and the Jordan brand is adjusting to lower price points amid challenging macro conditions in China, EMEA, and North America. Following the earnings announcement, which revealed Nike missing revenue projections for a second quarter in a row and cutting its full-year forecast, shares of Foot Locker, Dick's Sporting Goods, Under Armour, and VF Corporation dropped in pre-market trading. Jessica Ramirez from Jane Hali & Associates elaborated on the impact of Nike's performance on the CNBCWEX podcast.
TD COWEN: ".. $NKE needs improved marketing outside of basketball .. Innovation at the higher end of its assortment is not resonating .. Jordan brand moving into lower price points .. China, EMEA and N. America macro is deteriorating while .. valuation .. is not cheap. We…
LISTEN NOW: Nike shares are sinking after missing revenue estimates for the second straight quarter and slashing full-year guidance. Jane Hali & Associates' Jessica Ramirez explains. Listen and follow the @CNBCWEX podcast here: https://t.co/oxVXD9Sfaa https://t.co/NrXD6NWSZX
$NKE tends to fade intraday following earnings, says B of A: https://t.co/0DRWfAZJtS
Foot Locker, Dick's Shares Slide After Warning From $NKE Nike - MW $FL (-8.1% pre) $DKS (-4.6% pre) $UA (-5.2% pre) $VFC (-2.9% pre) https://t.co/GwUpXk3v2I
Countdown to Nike earnings! The sportwear maker set to report tomorrow after the bell. BMO's Simeon Siegel on what he's expecting to hear and what the report could signal about the consumer. $NKE https://t.co/gWZtMidEAr