What to Expect From NIKE’s Upcoming Q1 Results?
<p>Deutsche Bank analysts lowered their estimates and price target to $123 from $130 on <a href='https://financialmodelingprep.com/financial-summary/NKE'>NIKE, Inc. (NYSE:NKE)</a> ahead of the company’s upcoming Q1 earnings announcement. </p>
<p>The analysts expect Q1 EPS to miss the Street estimate of $0.94, largely driven by soft results in China, FX headwinds, and greater-than-expected gross margin contraction. The analysts now estimate revenues for China of $1.581 billion, below the Street estimate of $1.666 billion.</p>
<p>On the positive side, the analysts expect revenues in North America to come in roughly in line with the Street estimates and are modeling growth up 4.8% year-over-year, compared to the Street estimate of 4.0% growth.</p>
<p>Looking at margins, the company's high inventory position at the end of fiscal Q4 and the increasingly promotional environment in both North America and China, lead the analysts to believe that gross margin could be below the Street estimate.</p>

NYSE:NKE