**Nike Reports Mixed Q1 Earnings; Announces CEO Transition**

Nike Inc. announced its fiscal first-quarter earnings, revealing a mixed performance. The sportswear giant posted earnings of $0.70 per share, surpassing analysts' expectations of $0.52. However, revenue came in slightly below forecasts at $11.59 billion, compared to the anticipated $11.65 billion.

One standout figure from the report was Nike's performance in Greater China, where the company reported revenue of $1.67 billion, exceeding the Bloomberg consensus estimate of $1.62 billion. Despite this bright spot, the company faced challenges in Europe and North America, where sales remained sluggish.

Adding to the day's developments, Nike revealed that it is postponing its investor day, initially set for November 19. The earnings report also marked the final one under CEO John Donahoe, with longtime executive Elliott Hill set to take over the leadership role starting October 14.

David Swartz, an equity analyst at Morningstar, commented on the results, noting they aligned with his expectations. He highlighted the positive performance in China but pointed out ongoing weaknesses in other key markets. Swartz also mentioned that Nike is dealing with a limited pipeline of new products and pulling back on certain existing ones, which could impact future growth.

For further insights and to watch the full discussion on the CEO transition, watch the latest episode of "Asking for a Trend."