Investors will focus on Nike‘s marketing plans for the coming year when the company reports its results on Tuesday, following several sluggish quarters in which rivals have stolen market share and high tariffs have impacted imported goods.

The company, in the midst of a turnaround under CEO Elliott Hill, showed an appetite for big-ticket ad campaigns in the year ended May—boosting its marketing spend to $1.63 billion, up 9% from the previous year. Next year brings one of the biggest sports marketing bonanzas of the decade: the World Cup.

Marketing plans surrounding the Cup, which will be held next June in the U.S., Canada, and Mexico, will be a primary focus for main investors in the coming months, according to Morningstar analyst David Swartz.

Tuesday’s call may also shed light on Nike’s ongoing efforts to weather crippling tariffs. Nike makes nearly all its shoes in Vietnam, China and Indonesia—countries that face high tariffs from U.S. President Donald Trump.

The company stated in June that tariffs would add approximately $1 billion in costs, although it planned to reduce imports from China from around 16% to below 10%.

Nike’s marketing campaigns this past year were largely focused on reestablishing the brand as the go-to choice for serious athletes, a label that had eluded it in recent years. Nike needs to keep hitting that message, Swartz said: “We need to see some progress on returning to relevance.”

The World Cup has a scope matched by few sporting events, and Nike sponsors five of the top 10 FIFA-ranked national teams, including Brazil, France and England. Its selling and marketing expense is set to cross $5 billion in 2026, according to LSEG’s estimates.

Revenue for the August-ended quarter is expected to fall about 5% compared with a year earlier, while gross profit margin as a percentage of revenue is expected to shrink by about 3.7%, according to LSEG data.

Nike has lost market share to younger rivals, such as On and Deckers’ Hoka, which has contributed to its weak performance in recent quarters. Demand in major markets—especially China—has been choppy, as Nike tries to balance its wholesale and direct-to-consumer strategies. It has discounted some items as it works to clean out inventory.

The company has also struggled in women’s athleisure against competitors such as Lululemon. On Friday, it launched NikeSKIMS, in a highly anticipated partnership with Kim Kardashian‘s label.

However, Swartz said it would take time to judge its success, as “tariffs may affect sportswear demand for some time.”

The broader global athletic footwear market, estimated to be worth approximately $183 billion this year, is forecast to grow to $258 billion by 2030, according to India-based market research firm Mordor Intelligence.