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Nike Stock Is Falling Ahead of Its Results

Shares of Nike fell Thursday, flirting with lows last seen in October. The sneaker and sportswear giant is set to post its quarterly results today after the market closes.

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Factset chart

The stock was recently down 0.3%, on track for a 10th straight daily decline. Here’s what you need to know ahead of today’s results, including estimates from FactSet.

The company is expected to post $13 billion in revenue, up from $12.69 billion a year earlier

Nike is expected to record $1.17 billion in net income, compared with $1.47 billion in the year-ago period

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Nike’s results will be closely watched as a proxy for demand for consumer goods as inflation and higher interest rates continue to tamp down spending, particularly those outside of the necessities.

Source: Bloomberg/Nike
Image: Nike