$NKE Heads Into Earnings at Its Lowest Price in More Than 12 Years

$NKE is heading into earnings after the close while trading at its lowest price in more than 12 years.
The stock has been one of the more painful large-cap consumer names to own, with years of weak performance, slowing growth and repeated attempts at a turnaround.
That makes this earnings report especially important.
Investors will be watching North America and China demand, inventory trends, gross margins and whether Nike is finally showing evidence that its product and distribution strategy is improving.
Expectations are already depressed after such a long drawdown, which can create room for a sharp reaction if results or guidance come in better than feared.
But the burden is still on management to prove that the weakness is cyclical rather than a longer-term loss of brand momentum.
For $NKE, this report is less about one quarter and more about whether investors can finally see a credible path back to sustainable growth.