Nike warning drags Lululemon, On, Deckers shares lower — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Nike issued a warning that hit the stock prices of competitors Lululemon, On, Under Armour, and Deckers Outdoor (maker of Hoka).
- Nike plans sweeping job cuts as part of a restructuring, with its own shares tumbling after a weak revenue outlook.
Why it matters: Nike's weak revenue outlook and sweeping restructuring hit the stocks of Lululemon, On, Under Armour, and Deckers Outdoor on the same day Nike's own shares fell. The synchronized drop across rivals — not just Nike — shows the company still sets the pace for the entire athletic apparel and footwear category.
Ask SkimNews
