Nike (NKE, $53.19) has churned out a disappointing 2017 so far. Its shares have gained just 2.3%, a fraction of the 10.7% return delivered by Standard & Poor’s 500-stock index. Worse still for buy-and-holders has been the roller-coaster nature of this year’s ride, with the stock trading in a wide range of 16% from trough to peak. (Prices and returns as of Sept. 21.)
Mylanta, then, might be in order for Nike’s upcoming earnings report for its fiscal first quarter ended Aug. 31, slated to be released after Tuesday’s closing bell.
Nike’s last quarterly earnings report, delivered in late June, was a clear success, with fiscal Q4 revenues and profits both coming in ahead of consensus estimates. That – combined with a confirmation that the athletic apparel specialist would be directly selling some of its wares on Amazon.com (AMZN) – sparked a monthlong rally that pushed Nike shares to highs for the year.