Nike to report earnings as investors look for turnaround under new CEO Elliott Hill

Published On Dec 18, 2024, 9:00 AM

Nike is preparing to announce its fiscal second quarter earnings under new CEO Elliott Hill, creating anticipation among investors. Revenue is expected to be around $12.13 billion with adjusted earnings per share at $0.63, both lower than previous year figures. The company's shares have dropped over 35% in the past year due to declining focus and competition from brands like On Holding and Skechers. Hill’s leadership is seen as crucial for turning around the company's fortunes, especially after it withdrew its guidance last quarter.

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With CEO Elliott Hill at the helm, Nike is expected to provide updated guidance and potentially announce strategic changes to improve performance. However, the potential for missing revenue and margin expectations may lead to caution among investors.

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