BUZZ-Preview: Nike shares rise ahead of earnings release as analysts expect a decline in sales

October 1 - ** Nike (NKE.N) shares rose 2% in after-hours trading ahead of its quarterly earnings release, as market focus is on the company’s continued sales decline under competitive pressure

** According to data compiled by London Stock Exchange Group (LSEG), the sportswear giant is expected to report quarterly revenue down 3% year-on-year to $11.32 billion, with adjusted earnings per share at 43 cents compared to 49 cents a year ago

** French football star Kylian Mbappé ended his (link) two-decade partnership with Nike this month to join Swiss sports brand On, in another loss of a high-profile athlete for the US company

** The stock has fallen about 43% so far this year, underperforming the S&P 500 Index’s 12% gain .SPX

** LSEG data shows the stock's recent price-to-earnings ratio is 20 times, below its 10-year average of 29 times

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