Shares of Nike (NKE) have struggled so far this year and are down more than 15%. How is the company doing? Investors looking for insight won't have wait long because Nike is set to report quarterly results after the close Tuesday.
"Nike is a very difficult situation," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said Monday from the floor of the New York Stock Exchange. The sports apparel company has such sprawling international operations -- including major businesses in the U.S., China and western Europe -- that it's hard to get a read on how it's doing.
Looking at other companies for a potential read-through on Nike is also difficult, he said. Finish Line (FINL) reported good results, but investors didn't care for the earnings from Foot Locker (FL) .
With all that being said, Nike stock is down significantly from its highs over $68, he said, adding that his favorite in the group is Foot Locker, simply because the stock has been oversold.
Analysts expect Nike to earn 48 cents per share on $8.28 billion in revenue.