October 1 , 2024

Nike plans to release its first quarter fiscal 2025 numbers as it faces declining sales and stiff
competition. Nike appointed Elliott Hill as the company’s new CEO mid-September to assume
the position on October 14 with John Donahoe scaling down. Hill who before became Nike’s
senior vice president of global commercial and marketing has the daunting task of reinvigorating
sales as the firm takes on On Holding as well as Hoka.
Nike has also laid more emphasis on direct selling to consumer, competitors have been able to
penetrate in retail outlets. Analysts poured confidence that the company will be able to perform
better in the current quarter because of the return of Hill that was recently released on some
charges, however, most of them agree that the company could be in for a tough ride because
some major markets are troubled including China and North America. Nike’s current forecast for
earnings per share is 52 cents, which is 45% lower than the same period a year ago. Analyst
expect sales to decline by 10% and reaching $11.65 billion.