Shares of Nike (NKE) closed at $107.93 in the latest trading session, down -1.54% from the previous day. This change lagged the S&P 500’s 1.44% decline for the day. Elsewhere, the Dow lost 1.03% and the technology Nasdaq lost 0.11%.

On the eve of today, sportswear maker stocks were up 17.32% over the past month, outpacing the Consumer Discretionary sector’s 9.06% gain and the S&P 500’s 6.22% gain over that time.

Wall Street will be expecting positivity from Nike as the date of its next earnings report approaches. This is expected to occur on December 20, 2022. On that date, Nike is projected to report earnings of $0.66 per share, a 20.48% year-over-year decline. Meanwhile, the Zacks consensus revenue estimate projects net sales of $12.58 billion, up 10.76% from a year earlier.

The Zacks consensus forecast for the full year assumes NKE earnings of $2.97 per share and revenue of $48.97 billion. These results would be -20.8% and +4.84% year over year, respectively.