Nike Is Expected to Continue Near-Perfect String of Earnings Beats
A customer carries boxes of Nike Inc. shoes outside of the NikeTown Los Angeles retail store in Beverly Hills, California.
Photographer: Patrick T. FallonNike Inc. has topped quarterly earnings estimates 93% of the time over the past 11 years, supporting a stock rally that’s more than tripled the market since 2008. Wall Street analysts expect the iconic sneaker and apparel maker to continue that streak when it reports third-quarter results post-market Thursday.
Commentary from retail partners including Foot Locker Inc. and Dick’s Sporting Goods point to strong Nike footwear and clothing sales in the latest quarter, according to analysts. The company’s largest regional sales contributor, North America, faces easy year-over-year comparisons, and several new product launches in the February quarter bode well, too.