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Nike
is expected to report poor quarterly results on Thursday after it warned investors that the low point of its turnaround could come in its fiscal fourth quarter.
But since Nike issued that warning in March, conditions have worsened for the sneaker giant, leading some investors to question if the worst is still to come for its sales and profits.
Nike was contending with a 20% tariff on goods imported from China at the time, but President Donald Trump has since raised that duty to 30%. The first product from its highly anticipated partnership with Kim Kardashian’s intimates line Skims was supposed to launch during the quarter, but now that’s been delayed to later this year, CNBC previously reported.
