BUZZ-PREVIEW: Nike shares barely moving; quarterly EPS, rev seen slipping

Reuters12-20

BUZZ-PREVIEW: Nike shares barely moving; quarterly EPS, rev seen slipping

** Shares in Nike NKE.N flat on Thursday ahead of fiscal Q2 earnings report due after market close

** Wall Street sees the sports apparel, shoe co reporting adj EPS of $0.63 vs $1.03 in year-ago quarter on rev of $12.13 bln vs $13.39 bln in Q2 2023, according to latest data from LSEG

** In last 8 quarters EPS beat consensus 7 times while revenue beat just four times

** Investors anxious to hear from new CEO Elliott Hill about plans to rescue flailing co after a year of layoffs, cratering sales with hopes for innovation, repairing retailer relationships as NKE has lost share to rivals like Deckers' DECK.N Hoka running shoes and On ONON.N

**YTD, NKE shares down 29% and on track for third straight annual decline. In 2024, the Dow .DJI has risen ~13%, while S&P 500 consumer discretionary index .SPLRCD has jumped ~32%

** NKE options imply 9.1% swing for its shares, in either direction by Friday, per Trade Alert data; stock has logged an avg move of 9.0% day after results over the last eight qtrs, falling day after results for four straight quarters

(Reporting By Sinéad Carew, Saqib Iqbal Ahmed)

((sinead.carew@thomsonreuters.com; +13322191897;))

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