Nike is set to report fiscal first quarter earnings on Tuesday after the markets close. Analysts expect the sportswear company top post earnings of $0.56 a share on sales of $8.88 billion. During the same quarter a year ago, the company posted earnings of $0.67 per share with revenue of $8.41 billion. If it pans out, the 16% year-over-year drop in quarterly earnings would be its first decline since 2012. Analysts will be watching the company’s basketball unit amid increasing competition from Under Armour . TheStreet’s Scott Gamm reports from Wall Street.
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