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What to Watch: Nike Gears Up to Report Earnings on Thursday

July 6, 2023
in Trade Tube
Reading Time: 2 mins read
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For Thursday, June 25 TheStreet highlights the ‘Conversation on the Economy and Financial Regulation’ panel in New York, along with three companies that are scheduled to report their quarterly financial and key economic data to watch on Wall Street. Fed Reserve Governor Daniel Tarullo is expected to speak on a panel discussing the economy and financial regulation in New York. TheStreet will have the latest on Tarullo’s speech on Thursday. The notable earnings for the day include consulting and outsourcing firm Accenture before the market opens. And in the afternoon, earnings from Nike (NKE) and chipmaker Micron Technology (MU) are scheduled to be released after the closing bell. Nike is expected to post its fourth quarter earnings results. The consensus estimate calls for a profit of 83 cents per share on sales of about $7.7 billion for the quarter, according to Thomson Reuters data. The world’s largest athletic apparel and footwear company is also expected to report futures orders, a metric that shows how much merchandise the company expects to ship in the coming months. In the same quarter of last year, the company posted earnings of 78 cents per share on sales of about $7.42 billion. Beaverton, Ore.-based Nike is engaged in design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. Nike sells its products to retail accounts, through Nike owned retail stores and internet websites. It focuses on product offerings in eight categories including running, basketball, soccer, men’s training, women’s training, action sports, and sportswear. On the economic calendar, we point out weekly jobless claims, personal income and outlays, Markit’s flash Purchasing Managers’ Index for June, and the Fed balance sheet. TheStreet’s Kurumi Fukushima reports in New York.

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