One notable absence in Nike's 10Q was the regional comparable store sales report.

Nike Inc. filed its extended quarterly report, which resulted in both negative and positive callouts from Wall Street.

One big negative was the pullback on regional comparable store sales disclosures.

“When companies pull back on disclosures, it is never a good sign,” BNP Paribas analyst Laurent Vasilescu concluded.

The BNP analyst said that Nike has provided comps in some form on a quarterly basis since fiscal year 2011, and now it is providing year-over-year store sales instead. He said this change reduces the transparency on whether brick-and-mortar growth is being driven by like-for-like sales or if it is due to “simply unit expansion.”

And he noted that last year, Nike also pulled another disclosure when it stopped breaking out Accounts Receivable by region.

The analyst added that the lack of regional comps store sales disclosures follows Nike’s plan to collapse four regions into three — Americas, EMEA (Europe, Middle East and Africa), and Greater China and Asia Pacific — when everyone is trying to figure out when China will turn around.

Previously, Greater China was its own region and Asia Pacific and Latin America were one grouping. Now North America and Latin America are combining to form Americas. The change is expected to be completed in Fiscal Year 2028.

“While this change has already been known, we believe it is unfairly being done under the guise of restructuring…and [to] give investors less transparency in disaggregating China sales,” the BNP analyst concluded.

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