Nike Just Hit an 11-Year Low. Will Its Turnaround Finally Start on Wednesday?
Nike is set to report earnings on June 30. Here's what to expect.
Overview
Nike's (NYSE: NKE) slogan might be "Just Do It," but for investors, it's done nothing good in years.
The stock is hovering near 11-year lows as it prepares to report fourth-quarter earnings on Tuesday after markets close.
Details
It's clear why the footwear giant is struggling. Sales have gone downhill as it's faced a combination of intensifying competition from brands like On Holding and Deckers' Hoka, lackluster consumer spending in North America, weakness in China due to upstart competition and nationalistic consumer sentiment, a failure to sufficiently innovate under former CEO John Donahoe, and a poor strategic decision to pull back from key wholesale partners under Donahoe.
Source
Originally published at www.fool.com.