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.
Tweet on Nike shares
Shares of @Nike fell Thursday, flirting with lows last seen in October!#nike #shares pic.twitter.com/Ke8a6el23B
— The_Journalbiz (@the_journalbiz) September 28, 2023
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
Investors are also watching
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.
