Jefferies expects Nike Q1 earnings beat

Nike is set to report fiscal first-quarter results on Oct. 1 as investors look for evidence its turnaround is taking hold after a steep share-price decline, weaker lifestyle demand and prolonged softness in China. Jefferies expects revenue of about $11.5 billion and earnings of 48 cents per share, above consensus, and argues that signs of stabilization in North America and wholesale sales, along with November’s investor day, could improve confidence; it maintains a Buy rating and $75 target. Nike is also trying to restore its premium positioning in China by pulling back on discounts and third-party online sales, though that strategy risks losing sales through those channels. The outlook on Wall Street is mixed: Evercore cut its price target to $34, and several other firms have issued cautious ratings, while the broader analyst consensus remains Hold.