PREVIEW: Nike shares barely moving; quarterly EPS, rev seen slipping
19/12/2024 17:03
** Shares in Nike NKE.N flat on Thursday ahead of fiscal Q2
earnings report due after market close
** Wall Street sees the sports apparel, shoe co reporting
adj EPS of $0.63 vs $1.03 in year-ago quarter on rev of $12.13
bln vs $13.39 bln in Q2 2023, according to latest data from LSEG
** In last 8 quarters EPS beat consensus 7 times while
revenue beat just four times
** Investors anxious to hear from new CEO Elliott Hill about
plans to rescue flailing co after a year of layoffs, cratering
sales with hopes for innovation, repairing retailer
relationships as NKE has lost share to rivals like Deckers'
DECK.N Hoka running shoes and On ONON.N
**YTD, NKE shares down 29% and on track for third straight
annual decline. In 2024, the Dow .DJI has risen ~13%, while
S&P 500 consumer discretionary index .SPLRCD has jumped ~32%
** NKE options imply 9.1% swing for its shares, in either
direction by Friday, per Trade Alert data; stock has logged an
avg move of 9.0% day after results over the last eight qtrs,
falling day after results for four straight quarters
(Reporting By Sinéad Carew, Saqib Iqbal Ahmed)
((mailto:sinead.carew@thomsonreuters.com; +13322191897;))