Hibbett Sports Sales Forecast Sends Nike Stock Down

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Hibbett Sports, (HIBB, +8.02%) a 1,078-store http://www.newestshoes.co.uk/nike-air-max-day-2016-c-7_14.html regional chain, shook the world of sports retailing already reeling from http://www.newestshoes.co.uk/nike-air-max-day-2016-c-7_14.html a series of bankruptcies, with a downbeat sales forecast on Monday. The company, based in Birmingham, Alabama, said it has http://www.newestshoes.co.uk/adidas-c-1.html been facing "very challenging sales trends" in the current second quarter and expects a second-quarter loss http://www.alaskadancetheatre.com/ of between 19 and 22 cents per share, stunning Wall Street which had been expecting a profit of 15 cents. That bad news sent http://www.alaskadancetheatre.com/ Hibbett shares down 30% to less than $14 on Monday afternoon. The news also hit shares of fellow sports retailers like Finish Line (FINL, +3.65%) and Dick's Sporting Goods (DKS, +1.94%), already grappling with Amazon.com's (AMZN, +0.12%) growth in the sector (Nike (NKE, +0.75%) recently http://www.aheartinhand.com/ announced it would begin selling directly on Amazon) and a number of peer bankruptcies in the last year that have led to liquidation http://www.aheartinhand.com/ sales with which the survives must grapple. Those two chains saw shares fall around 5%. The stocks of Nike and Under Armour (UAA, -0.79%) also took a bit of a hit on fears about demand for sports gear, shedding a couple of points each.