Nike Stock Plunges to 12-Year Low Ahead of Q1 Earnings Report

Nike's stock price has been on a downward trend for months, and recent events have heightened expectations for its Q1 earnings. On October 1, Nike will release its quarterly report after the close of trading, with shares currently trading at $35.99, near a 12-year low.

The company's CFO, Matt Friend, announced in June that gross margin expansion would begin in Q1, pulled forward from a prior Q2 forecast. Analysts expect revenue to be around $11.3 billion, down about 3% from the previous year, with EPS near $0.44.

Nike's performance categories, such as Running and Football, have shown growth momentum, but Sportswear and Jordan Streetwear continue to struggle. The company's margin expansion will be a crucial indicator of its recovery, and investors are watching closely for signs of improvement.