Is Nike joining the Amazon roster?

Is Nike joining the Amazon roster?
In this Thursday, Aug. 25, 2016, file photo, Nike products appear on display at the SIX:02 shop inside Foot Locker's redesigned Manhattan flagship store in New York. Sporting goods stocks are slumping to 52-week lows on news that Amazon may be close to a deal with Nike to sell its shoes and athletic gear online. (AP Photo/Mary Altaffer, File)

Shares a several major sports chains are hitting 52-week lows on word that Nike may soon be selling its gear directly on Amazon.com.

In the past week, sporting goods stores, big grocery chains and department stores have all been walloped over fears that Amazon would soon become a disrupting force in those sectors.

Amazon said Friday that it would buy Whole Foods for $13.7 billion, pummeling shares of grocers. Retail clothing companies, already in danger as people shop online, took a dive Tuesday when the online behemoth announced its Amazon Wardrobe program for Prime members.

Shares in Dick's, Foot Locker and Finish Line all tumbled Wednesday after Goldman Sachs reported indications that Nike was closing in on a direct sales deal with Amazon.


Explore further

Amazon, now Alphabet with shares at $1,000

© 2017 The Associated Press. All rights reserved.

Citation: Is Nike joining the Amazon roster? (2017, June 21) retrieved 21 September 2019 from https://phys.org/news/2017-06-nike-amazon-roster.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
3 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more