Wall Street Continues to Pummel Athletic Stocks as it Looks to Future
Industry stocks continued to decline on the opening day of trading this week following the unexpectedly poor results of Dick’s and Foot Locker last week. Analysts piled on with downgrades. Foot Locker alone got six in just one day. The thinking revolved around the theme that sporting goods, long thought to be above the general retail fray because some semblance of full-price selling remained, had now descended into the depths of traditional retailing where industry players will be protecting its market share with a disastrous price war.
The gory details of the stock prices: Foot Locker down another 6% to $32.15 ... Log in to view full article.