Nike will report earnings after the bell. Here’s what Wall Street expects

Nike will report earnings after the bell. Here’s what Wall Street expects


Customers shop at a Nike store in an outlet mall in Los Angeles, Nov. 8, 2024.

Frederic J. Brown | Afp | Getty Images

Nike on Thursday will report its fiscal second-quarter earnings, its first quarterly earnings under new CEO Elliott Hill, who is expected to lay out the early innings of a strategy to reverse an ongoing sales decline. 

Here’s what analysts are expecting from the world’s largest sneaker company, according to consensus estimates from LSEG:

  • Earnings per share: 64 cents
  • Revenue: $12.18 billion

Analysts are expecting sales to drop more than 9% from the year-ago period and profits to plunge by about 38%. 

The dismal outlook comes as Nike works to turn around its business and fix its product assortment by pulling back on three of its key franchises: Air Force 1s, Dunks and Air Jordan 1s. Those styles dominated Nike’s product lineup under former CEO John Donahoe, but then became so commonplace that they lost their cool factor. Now Nike is trying to cut back supply.

Nike has warned that strategy will pressure sales in the short term. But it has also affected Foot Locker, which missed Wall Street’s estimates on the top and bottom lines in its third-quarter report Dec. 4 in part because of soft demand for Nike products, its CEO Mary Dillon told CNBC at the time. 

Foot Locker’s dismal quarter was a warning sign for Nike and a clue that investors may need to be patient as they wait for the sneaker giant to turn its business around. When Nike reports earnings Thursday, Hill will have been in the new role for just over two months, and it’s going to take time to see the effects of strategy changes. 

Elliott Hill, president and CEO of Nike, Inc.

Courtesy: Nike

Hill has his work cut out for him beyond fixing Nike’s product assortment. He’ll need to power up Nike’s innovation pipeline, reset its relationships with wholesalers and improve morale after a series of layoffs and a breakdown in culture. 

Since taking over, he has scored a few wins. The National Football League announced Dec. 11 that it had renewed its contract with Nike after it briefly courted other bidders. Amid criticism for falling behind on innovation and botching a uniform release for Major League Baseball, the NFL’s decision to renew its contract with Nike through 2038 was a major vote of confidence. 

Now, Nike is the exclusive uniform provider for the NFL, MLB, and the National Basketball Association.

Shares of Nike were down about 27% in 2024 as of Wednesday afternoon, compared with a roughly 27% gain for the S&P 500.



Source

Fast-casual restaurants lean on loyalty programs to offset consumer pullback
Business

Fast-casual restaurants lean on loyalty programs to offset consumer pullback

A customer exits a Cava restaurant in New York City on June 22, 2023. Brendan McDermid | Reuters As some consumers pull back on spending amid economic uncertainty, fast-casual restaurant chains are leaning on rewards programs to pull them back in. Loyalty programs, which offer discounts or added perks for returning customers, have transitioned from […]

Read More
From mustard makeovers to beef tallow, six food and beverage trends that could take over
Business

From mustard makeovers to beef tallow, six food and beverage trends that could take over

Condiments are getting an upgrade. Chefs are taking their signature sauces and dips outside the kitchen. And “swicy” still reigns. Those food trends were all on display at the Specialty Food Association’s Summer Fancy Food Show, which returned to the Javits Center in New York this week. From Sunday to Tuesday, more than 2,000 exhibitors […]

Read More
Top five tax changes for the wealthy in Trump’s ‘big beautiful bill’
Business

Top five tax changes for the wealthy in Trump’s ‘big beautiful bill’

A view of the US Capitol in Washington, DC, on June 30, 2025. Jim Watson | Afp | Getty Images The wealthy will likely see a host of new tax breaks in President Donald Trump’s “big beautiful bill,” along with permanent extensions of many of the 2017 tax cuts, according to tax experts. Taxpayers earning […]

Read More