Overview

• Results are due after Tuesday’s market close, with consensus pointing to about $11.0 billion in sales and adjusted EPS near $0.26–$0.28.
• Company guidance calls for a mid‑single‑digit revenue decline and a 350–425 bps drag on gross margin in Q1, including roughly 100 bps from tariffs.
• Nike has estimated about $1 billion in gross incremental costs tied to tariffs and sourcing shifts as it reduces U.S. imports from China to the high‑single‑digit range by fiscal year‑end.
• Segment expectations show Nike Direct down about 8.3% to $4.3 billion and wholesale down roughly 8% to $6.28 billion, with Converse seen off about 9% and the Nike brand down around 5%.
• Analysts have recently adjusted targets with largely Neutral/Equal‑Weight stances, and historical data show NKE shares have fallen after earnings 63% of the time with a median one‑day drop of 6.5%.