Nike is set to report Q1 results amid a major turnaround strategy under CEO Elliott Hill. Analysts expect EPS of $0.28, down 60%, with revenue dropping 4.9% to $11.02 billion. Nike Direct revenue is forecasted to decline 8.3% to $4.3 billion, with wholesale revenue also expected to drop around 8% to $6.28 billion. The Nike brand is projected to see sales fall 5% to $10.55 billion. Nike stock is down 8% this year. The company plans to reduce reliance on China for manufacturing and implement a “surgical price increase” in the US. Tariffs could cost Nike ~$1.5B.

Read more at Yahoo Finance: Nike expected to post sales decline as it navigates tariffs, turnaround strategy