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.