Investors in Nike (NKE:NYSE) have endured an unusually tough period of late with shares in the Oregon-based sportswear giant down 15% over one year amid slowing growth and weaker consumer spending.

Fierce competition from fast-growing trainer brands and some self-inflicted wounds have also knocked Nike off track: the brand has lost a number of athlete relationships in recent years including footballers Harry Kane and Jack Grealish and tennis and golf legends Roger Federer and Tiger Woods to name a few.

The sneakers-to-soccer ball behemoth is forecast to deliver a sequential decline in revenue and earnings when it posts third-quarter results on 21 March.

Investors will be looking for evidence of improving profitability and a step-up in performance in the US and Europe when Nike dashes in with its numbers, but a sharp uptick in sales looks unlikely considering the ‘softer second-half revenue outlook’ flagged by chief financial officer Matthew Friend in a downbeat second-quarter update in December, where Nike lowered its revenue view on weaker demand, in particular from China and Europe, and outlined plans for a $2 billion cost-cutting programme.

The company’s ‘save to invest’ plan is aimed at streamlining the business, creating a simplified range of products and boosting its use of automation. 

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

15 March: Buckle, GigaCloud Technology, Groupon

19 March: Tencent Music Entertainment, Core Main, Orla Mining 

20 March: Micron, General Mills, Five Below, Chewy, H B Fuller, Guess, Winnebago Industries, Signet Jewelers, KB Home, Steelcase

21 March: Accenture, Nike, FedEx, Carnival Corp, FactSet Research

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