PREVIEW: Nike shares dip; results due after the bell
BUZZ-PREVIEW: Nike shares dip; results due after the bell ** Shares of Nike NKE.N slipping 0.1% on Tues ahead of qtrly results, due after the closing bell, with investors focused on the sportswear co's sales outlook
** NKE is expected to report qtrly rev down 2% to $10.86 bln, and adjusted EPS of $0.13 vs $0.14 a yr ago, per LSEG
** Stock has fallen ~35% YTD, underperforming the S&P 500's .SPX 9.4% gain in the same period
** Stifel analysts write in a recent note that they are "not ready to call a bottom on NKE shares" ahead of the qtrly report. They say that "dominant market position is unlikely to translate to value creation absent 1) a favorable change in consumer preference, or 2) a reinvigoration of the innovation pipeline at scale."
** The analysts add: "World Cup helps near-term (we see capacity for +2ppts benefit to F4Q26E revenue growth), but sets up as a challenging compare, elevating the growth threshold in F4Q27."
** Of 41 analysts covering the stock, 15 rate it "buy" or "strong buy," 24 including Stifel rate it a 'hold' and two rate it "sell," according to LSEG
** NKE said in April it is laying off about 1,400 people to streamline workflows, with the co fighting through a years-long sales slump
(Reporting by Caroline Valetkevitch )