LIVE: Nike reports earnings

Nike is about to report fiscal-first-quarter earnings amid concern about how its faring in a weak US market for athletic apparel.

Analysts estimate that the company will report adjusted EPS of $0.56 on revenues of $8.87 billion, according to Bloomberg.

Worldwide futures orders, a measure of demand from retail stores, are expected to increase by 8%. That would be a slowdown from the fourth quarter, when orders rose less than expected by 11%.

The company has lost market share in clothing and footwear to rivals like Adidas, who are ramping up investments to respond to consumers' changing tastes. As Under Armour took market share in the basketball category from Nike after a deal with Stephen Curry, Nike launched cheaper models of its KD and LeBron shoes.

Nike's stock had dropped 11% this year ahead of the market close on Tuesday, and was on pace for its first annual decline since 2009 according to Bloomberg.

More to come ...