Why Nike Inc. Stock Fell 10.6% in August

Why Nike Inc. Stock Fell 10.6% in August

Shares of Nike Inc. (NYSE: NKE) declined 10.6% in August, according to data from S&P Global Market Intelligence, following painful quarterly reports from two of the country's largest athletic-footwear retailers.

Nike stock fell nearly 5% on Aug. 18 alone -- the first trading session after Foot Locker (NYSE: FL) announced painful second-quarter results. Foot Locker stock, for its part, plummeted more than 20% that day. Then Nike only extended its decline on Aug. 29, when The Finish Line (NASDAQ: FINL) announced its own underwhelming preliminary fiscal second-quarter results.

IMAGE SOURCE: NIKE.

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Source: Fool.com