From CNBC: 2024-12-19 12:03:39

Nike is set to report its fiscal second-quarter earnings under new CEO Elliott Hill. Analysts expect earnings per share of 64 cents and revenue of $12.18 billion, anticipating sales to drop over 9% and profits to plummet by about 38%. Nike is working to reverse a sales decline by cutting back on key franchises like Air Force 1s and Air Jordan 1s.

Foot Locker’s third-quarter report hinted at soft demand for Nike products, affecting sales. Investors may need to be patient as Nike implements new strategies under Hill’s leadership. Beyond fixing product assortment, Hill aims to boost innovation, rebuild wholesaler relationships, and improve morale after layoffs.

Despite challenges, Nike scored a win with the NFL renewing its contract through 2038. Nike is now the exclusive uniform provider for the NFL, MLB, and NBA. Nike’s shares were down 27% in 2024, contrasting with the S&P 500’s 27% gain. Investors await the impact of Hill’s strategy changes on the sneaker giant’s performance.



Read more at CNBC:: Nike (NKE) earnings Q2 2025