PREVIEW: Nike shares slip ahead of earnings report

Nike NKE.N shares slip 0.5% ahead of qtrly results after the bell, as investors focus on the co's efforts to regain market dominance amid stiff competition

Analysts expect qtrly rev down ~11% to $11.01 bln, with adjusted EPS seen at $0.29 vs $0.77 yr-ago, per LSEG, highlighting challenges in recovering market share lost in recent years

NKE stock down about 4% YTD, underperforming S&P 500 .SPX, which is down 3%; stock is 29% below its 52-week intraday high of $101.9 reached on March 21, 2024

Stock recently traded at 32 times expected earnings, slightly above its five-year avg forward PE of 31, per LSEG data

In past 30 days, six analysts raised EPS estimates for qtr, while four revised downwards, indicating mixed sentiment on co's near-term prospects