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Nike (NKE) is set to report its fiscal first quarter results on Tuesday, September 30, 2023, amid a challenging retail environment influenced by high inflation. The company’s sales are expected to decline by 5% to approximately $11 billion, while earnings per share (EPS) are projected to drop from $0.70 to $0.28 year-over-year.
Nike has seen its stock recover from a 52-week low of $52, but it remains over 20% below its one-year high of $90. The decline has been attributed to various factors, including tariff impacts in China, where revenue is estimated to fall by 14% in the upcoming quarter. Despite these challenges, Nike has exceeded earnings expectations in the past eight quarters, with an average surprise of 41.99% over the last four quarters.
Looking ahead, analysts forecast a 1% dip in total sales for fiscal 2026, followed by a rebound of 6% to $48.41 billion in fiscal 2027. While annual earnings are expected to drop over 20% in FY26, a notable recovery of 58% in EPS to $2.59 is anticipated in FY27.
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