Stifel analysts have cut their earnings estimates on Nike by 20 cents for both this year and next year, ahead of the apparel giant's fiscal first quarter report due October 1. Analyst Peter McGoldrick is behind the reduction, which comes as Nike shares sit down about 45% year to date. The company is also being removed from the S&P 100, and last week lost star soccer athlete Kylian Mbappé. Nike is expected to report dreadful results and could miss on earnings and cut guidance again, with pressure mounting on CEO Elliot Hill as Phil Knight and Travis Knight sit on the board.
Nike IncStifel cut Nike's earnings estimates by 20 cents ahead of its October 1 report, with expectations of dreadful results and possible guidance cut.
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