Is Nike joining the Amazon roster?

The Nike logo appears above the post where it trades on the floor of the New York Stock Exchange, Wednesday, March 22, 2017. Nike dropped 6 percent after issuing a weak forecast. (AP Photo/Richard Drew)

NEW YORK (AP) – 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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s