Athletic Footwear Sees Declines In Sales

Athletic footwear stocks may come under pressure as Janney cited adverse SportScan data, according to Bloomberg.

According to the report, athletic footwear sales fell in week ended November 1 by 6.5 percent year-over-year. This compares to a 20.6 percent increase in the previous year.

The SportScan data indicated that sales declined in basketball footwear at -9.5 percent versus +50.4 percent last year.

Declines in athletic apparel came in at -4.1 percent versus +26.4 percent in the previous year.

Nike Inc NKE saw total footwear come in at -2.5 percent for the period versus Under Armour Inc UA footwear at +35 percent. The sales decline also hit Adidas AG ADR ADDYY at -41 percent, according to the report.

As of Wednesday morning, only Under Armour stock was under pressure, trading at $64.04, down 1.1 percent.

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Posted In: Analyst ColorNewsRetail SalesAnalyst RatingsBloombergJanneySportScan
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