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Wire

Nike Faces Slight Downside to Q1 Guidance After Weak Sales Trends, UBS Says

Nike (NKE) is likely to issue Q1 guidance with a slightly negative upside/downside skew, following lackluster global sales momentum through May, UBS Securities said.The company is set to release its fiscal Q4 results on June 30.UBS said in a Tuesday note that it expects Nike's earnings per share to be "roughly in-line" with market consensus. It also expects the company to issue a Q1 EPS outlook in the range of 32 to 44 cents, below the Street view of 45 cents, alongside sales down low-single digits.The investment firm said its channel checks pointed to weak direct-to-consumer sales in Europe, the Middle East and Africa during fiscal Q4. Sales trends in China and Europe continued to be pressured, while US sales growth was weak during the quarter, the brokerage added.Nike investors have also indicated concerns that the company's turnaround in China and EMEA are taking longer than expected, and over its capacity to sustain momentum in running, according to the note.UBS cut its price target on Nike to $50 from $54, with a neutral rating.Shares of Nike were down nearly 1% in Wednesday trading.Price: $44.25, Change: $-0.41, Percent Change: -0.91%

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Wire

Nike Turnaround Could Take Longer Despite New Growth Drivers, RBC Says

Nike's (NKE) turnaround is likely to remain slow through the rest of 2026 as product progress, inventory cleanup, direct sales recovery and new growth drivers may take longer to have an effect, RBC Capital Markets said in a note Wednesday.Nike is making progress under CEO Elliott Hill, including changes to the organization, wholesale business, sports-focused teams and running category, but product improvement is still not broad enough and Nike's revenue growth outlook remains weaker than the wider sector, which could point to further market share pressure, the investment firm said.Nike needs better full-price direct-to-consumer sales, while tighter buying from Dick's Sporting Goods (DKS) and Foot Locker (FL) could affect underperforming styles in wholesale, RBC said.The company could beat Q4 expectations if North America wholesale demand and World Cup-related orders are strong, but RBC said an improvement in direct-to-consumer sales is also necessary, but not as likely.RBC downgraded Nike to sector perform from outperform and cut its price target to $50 from $70, saying there are limited near-term reasons for the stock to move higher.Price: $44.21, Change: $-0.44, Percent Change: -0.99%

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Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says
US Markets

Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says

Nike (NKE) has limited near-term catalysts amid slower-than-expected progress on its turnaround plans under Chief Executive Elliott Hill, RBC Capital Markets said in a client note Wednesday.The company is unlikely to see a sustained shift in revenue trends for the rest of 2026 despite the upcoming FIFA World Cup, amid ongoing "clean-up" activities and a lack of new growth engines, the brokerage said.RBC said Nike is making visible operational progress, including organizational changes, a wholesale rebuild, sports-aligned operating units, and improvements in its running segment. However, this progress is "slower and narrower" than the brokerage's expectations, the note said."Execution speed is not as quick as we would like on product and inventory clearance, with the remainder of (calendar year) 2026 unlikely to deliver positive revenue growth," RBC analyst Piral Dadhania wrote. "Sufficient breadth on product progress remains the challenge, in our view."Nike shares have decreased 50% since Hill took over as CEO, while earnings per share are down about 40%, Dadhania said.Hill assumed the top role at the athletic apparel giant in October 2024.RBC downgraded Nike's stock to Sector Perform from Outperform, lowering the price target to $50 from $70.For the fiscal fourth quarter, RBC forecasts earnings per share of $0.11 and about $10.8 billion in revenue. Analysts polled by FactSet expect earnings of $0.12 per share on sales of $10.58 billion.Nike is expected to release its fiscal fourth-quarter results on June 30."A top-line beat driven by North America wholesale strength and World Cup sell-in is feasible," RBC said. "However, we would also like to see (direct-to-consumer) improvement which is not as likely in our view."

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Research

RBC Downgrades NIKE to Sector Perform From Outperform, Adjusts PT to $50 From $70

NIKE (NKE) has an average rating of overweight and mean price target of $59.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Research

Wells Fargo Downgrades NIKE to Equalweight From Overweight, Adjusts Price Target to $45 From $55

NIKE (NKE) has an average rating of overweight and mean price target of $60.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Friday

Consumer stocks were mixed pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.5% higher.Procter & Gamble (PG) shares were up more than 3% after the company posted higher fiscal Q3 core earnings and net sales.Coursera (COUR) stock was down more than 17% after the company reported a decline in Q1 non-GAAP earnings.Nike (NKE) plans to cut 1,400 jobs in global operations, with most of the reductions coming in the technology division. Nike shares were 0.4% higher premarket.

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Wire

Nike Picked Stock of the Week at Smart Insider Following Renewed Insider Buying

Nike (NKE) was named Smart Insider's stock pick of the week after insider purchases resumed following a recent decline in the share price.Smart Insider said it previously ranked the stock +1 on Dec. 24 after a $3 million share purchase by Lead Independent Director Timothy Cook at $59 per share, alongside $500,000 purchases each from directors Robert Swan and Jorgen Knudstorp.Chief Executive Elliott Hill also spent $1 million in December following the upgrade, according to Smart Insider.After reporting Q3 results on March 31, the stock has fallen about 25% since December, Smart Insider said, adding that insiders responded with additional purchases totaling about $2.7 million between April 7 and April 13 at around $43 per share.John Rogers, a director since 2018, bought $173,000 of shares in his first purchase since December 2024, according to the report. Hill acquired another $1 million of stock, Cook added $1.1 million to his holdings, and Swan purchased $500,000 of shares, Smart Insider said.Smart Insider said that while the December buying was not timely, the recent cluster of purchases is encouraging.Smart Insider renewed its +1 rating on the stock, indicating a strong positive signal.Price: $46.93, Change: $+0.45, Percent Change: +0.97%

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US Markets

Most Softline Retailers Poised to Meet or Top Quarterly Earnings Views, UBS Says

Most US softline retailers are expected to report upcoming quarterly earnings either in line or above Wall Street's estimates, while consumer spending could rise notably if the Middle East conflict ends soon, UBS Securities said Monday.A survey conducted by the brokerage during the first two weeks of this month showed that consumer spending intentions remained "good," particularly for apparel and footwear despite headwinds from the US-Israel war with Iran that started at the end of February, UBS analysts, including Jay Sole said in a note to clients."We believe the market is overestimating the negative impact of high oil prices on softline company margins," UBS said. "We see most softline companies either meeting or beating (first-quarter) expectations during this upcoming earnings season."The war, which has impacted several Middle East countries, has sent energy prices soaring amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows.US retail gasoline prices averaged $4.042 per gallon Monday, compared with $3.151 a year ago, according to data from AAA, a travel organization that tracks fuel prices in the country."US consumers' view of the economy has been somewhat impacted (month on month) by the Middle East conflict and rising gas prices," the UBS analysts said Monday. "Yet, the data show potential for a strong pop in US consumer spending if the Middle East conflict ends soon and gas prices return to pre-conflict levels. This is a main reason we remain bullish."On Holding (ONON), Deckers Outdoor (DECK), Gildan Activewear (GIL), Burlington Stores (BURL), Levi Strauss (LEVI), Ralph Lauren (RL), and TJX (TJX) are among the softline stocks that UBS said it likes and rates as buy. The brokerage said it likes these stocks over several big names such as Nike (NKE) and Lululemon Athletica (LULU), according to the note."We believe the market is significantly underestimating the potential for (artificial intelligence) to positively impact softline companies' sales and margins," the analysts said.On Saturday, Iran took back control the Strait of Hormuz after temporarily opening the waterway to commercial vessels Friday. The US and Iran have accused each other of violating a two-week ceasefire announced April 7, leaving the situation in the Middle East in limbo.Price: $37.24, Change: $+0.29, Percent Change: +0.78%

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Research

HSBC Downgrades NIKE to Hold From Buy, Adjusts Price Target to $48 From $90

NIKE (NKE) has an average rating of overweight and mean price target of $61.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Sectors

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported. Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the report said. Nike shares fell 3.4%.Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 2.8%.Simply Good Foods (SMPL) shares fell 11% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 2.3% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

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Wire

Market Chatter: Nike's Chief Innovation Officer Leaving After Less Than a Year

Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported Friday, citing a company statement.Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the company reportedly said.Nike didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $42.62, Change: $-1.38, Percent Change: -3.14%

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Wire

Nike Chief Innovation Officer Leaving After Less Than a Year, WSJ Reports

Nike Chief Innovation Officer Leaving After Less Than a Year, WSJ Reports

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