Nike Inc. is set to report its earnings tomorrow after the bell, with BMO's Simeon Siegel providing insights on consumer trends to watch. In conjunction with its earnings, Nike has announced a plan to cut $2 billion in costs over three years, with Williams Trading equity analyst Sam Poser criticizing the company for not creating enough newness. Financial analysts have revised their price targets for Nike, with TD Cowen downgrading the stock to Market Perform from Outperform and reducing the price target from $129 to $104, citing the need for improved marketing beyond basketball and noting that higher-end innovation isn't resonating. Conversely, BMO Capital raised its target to $118 from $110, HSBC to $120 from $113, while Evercore ISI and Stifel made cuts. Additionally, the Jordan brand is moving into lower price points amidst a challenging macro environment in China, EMEA, and North America.
$NKE is set to cut $2 billion in costs over the next three years. Bernstein senior analyst Aneesha Sherman discusses the outlook for the American athletic footwear and apparel corporation following earnings: https://t.co/YCwA6IG5Wg
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…
📉 $NKE: TD Cowen Downgrades to Market Perform from Outperform - PT $104 (from $129) 🔸 $NKE: BMO Capital raises price target to $118 from $110 🔸 $NKE: HSBC raises price target to $120 from $113 🔸 $NKE: Evercore ISI cuts price target to $122 from $137 🔸 $NKE: Stifel cuts…
$NKE unveils plan to cut $2 billion in costs over the next three years. "They just haven't creative enough newness," Williams Trading equity analyst Sam Poser says. https://t.co/wpQIAcKu2p
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