Nike (NKE) reported mixed fiscal first quarter results after the market close on Tuesday. Earnings of $0.70 per share topped the Street estimate of $0.52. Revenue was a slight miss, $11.59 billion versus the expected $11.65 billion. Greater China revenue, however, was better than expected, $1.67 billion compared to the Bloomberg consensus estimate of $1.62 billion. The company also announced it was postponing its investor day, which had been scheduled for November 19. This is the last earnings report from CEO John Donahoe. Longtime Nike executive Elliott Hill will take the helm on October 14.

Morningstar equity analyst David Swartz said the results were about what he was expecting. China sales were better than he had hoped, but Europe and North America continue to be weak. "Nike is in a situation where it doesn't have a lot of new products coming out and it is pulling back on some other products," he says.

Watch the video above for what Swartz thinks of the CEO transition.

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This post was written by Stephanie Mikulich.