Morningstar analyst David Swartz expects weak wholesale orders likely to weigh on Nike.

Jane Hali & Associates senior analyst Jessica Ramirez voiced heavier markdowns within sneakers in the problematic and volatile U.S. market.

Foot Locker also flagged declining sales in May, particularly for fashion-oriented sneakers.

Still, analysts expect a more robust rebound in China to offset the hit to sales from cooling consumer appetite for higher margin products in the North American region.

Analysts expect Nike to report Q4 revenue of $12.59 billion, up by 2.9% year-on-year. They expect an EPS of $0.67.

The analysts expect FY24 revenue of $54.23 billion, up by 6.4%, and EPS of $3.91.

Nike is due to report earnings today in the after-hours session.

Price Action: NKE shares are trading higher by 0.86% at $114.00 premarket on the last check Thursday.

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