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Nike Earnings Are Here. Wall Street Is Torn Over What to Expect.

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With demand for athletic wear slowing, the debate between the bears and the bulls rages on.

Nike reports earnings after the market closes Thursday. Whether the company meets projections is a hotly debated topic up and down Wall Street.

Bearish investors are concerned that a slowdown in consumer spending across North America will weigh on the company’s results. Foot Locker and Dick’s Sporting Goods both cut their full-year outlooks following lackluster second-quarter results, citing cautious consumers. Back-to-school sneaker sales, which initially got off to a strong start, have since fallen flat.

The bulls, such as Guggenheim’s Robert Drbul, argue the stock price already reflects these concerns. Nike shares are off 24% this year, well below the S&P 500 ‘s 11% gain.favorable,” Drbul wrote, adding that the stock was primed for a rally. Nike is a Barron’s stock pick. Moreover, the Nike brand is still strong, she adds, with many wholesale partners, including Foot Locker, recently commenting that Nike shoes were selling well. Fernandez has an Outperform rating on the stock.

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