Vans maker, Crocs and Under Armour stocks dive on back of Nike shares' plunge

Shares of Nike Inc. (NKE) tumbled 10.4% in morning trading Friday, enough to pace the S&P 500's losers by a wide margin, and are dragging down shares of other shoe makers in the wake of the athletic apparel giant's disappointing earnings report. Vans parent VF Corp.'s stock (VFC) sank 2.6%, and was the S&P 500's third-biggest decliner. Elsewhere, shares of Under Armour Inc. (UAA) (UA) slumped 3.3%, of Crocs Inc. (CROX) slid 4.8% and of Skechers USA Inc. (SKX) shed 2%. Among shoe sellers, the shares of Foot Locker Inc. (FL) dropped 5% and of Dick's Sporting Goods Inc. (DKS) gave up 3.4%. The selloffs are bucking the gains seen in the broader stock market, as the S&P 500 gained 0.3%. And the Dow Jones Industrial Average rose 39 points, or 0.1%, even as Nike's stock reduced the Dow's price by about 84 points.

-Tomi Kilgore

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12-22-23 1117ET

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