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Nike reports earnings after the bell. Here's what Wall Street expects

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Athletic Footwear Manufacturing,Designer Brands Inc,Foot Locker Inc

Nike is in a reset after critics say it lost sight of innovation and ceded share to competitors. Its CEO, John Donahoe, is scheduled to step down this month.

Analysts from LSEG are expecting earnings per share of 52 cents on revenue of $11.65 billion.An employee carries shoe boxes at the Footlocker retail store in the Barton Creek Square Mall on August 28, 2024 in Austin, Texas.will report quarterly earnings Tuesday as investors brace for another set of less-than-stellar results. The company announced in September that CEO John Donahoe would be

In September, Nike announced that Donahoe would be stepping down and would be replaced by company veteran Elliott Hill, who is scheduled to take the helm Oct. 14.such as Air Force 1s, Dunks and Air Jordan 1s — not the groundbreaking styles that turned the company into a global powerhouse.with wholesalers, but the company's board decided that Hill, who spent 32 years with Nike before retiring in 2020, would be the right person to lead its next chapter.

Footwear sales in the U.S. are projected to grow by just 2% in 2024 compared with 2023 after barely budging between 2022 and 2023, according to Euromonitor. Athletic footwear is expected to grow by about 5.6%, the firm said.

 

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