BofA/Merrill analyst Robert Ohmes believes Nike to report Q1 earnings next Tuesday above consensus of 48c given conservative guidance but expects a muted outlook due to weakening data points. Ohmes said retail partner same-store sales have deteriorated from last quarter, SportScan data continues to deteriorate, the promotional environment remains elevated, the company continues to lose share to adidas, the e-commerce channel has become a "dumping ground" for clearance and discounting, and VaporMax sales are not yet meaningful. The analyst maintains his Underperform rating and $42 price target on Nike and said risk/reward remains unfavorable.

Apparel & Footwear Analyst Kummetz discusses recent earnings for CAL, NKE, SCVL, Google trends and weather analysis and March Footwear Survey results on an Analyst/Industry conference call to be held on April 19 at 12 pm.