Worried over decelerating futures orders and inventory clearance set to hurt margins, market participants are liquidating their positions. At the time of writing, shares of Nike were down percent at 4.14 percent at $53.05 on roughly two-thirds of its average volumes.
Competitive threat posed by Adidas and Under Armour Inc UA and weak North American futures orders are given as near-term risks by most sell side analyst.
Here is a compilation of smaller footwear and sporting goods retailers trending lower in Wednesday's session via sympathy moves:
- Foot Locker, Inc. FL: down 1.01 percent at $67.38.
- Dicks Sporting Goods Inc DKS: down 2.27 percent at $59.04.
- Big 5 Sporting Goods Corporation BGFV: down 2.51 percent at $13.80.
- Lululemon Athletica inc. LULU: down 1.58 percent at $63.50.
At time of publication, Nike was down 3.85 percent at $53.11.
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