Sneaker Stocks Trip After Nike's Earnings Slide

Key TakeawayFootwear giant Nike reported fourth-quarter earnings after the bell Thursday that missed analysts' revenue expectations.The sportswear giant saw its stock sink Friday as investors questioned the company's ability to tackle rising competition from On Holding and Hoka. But its shares weren't the only ones hurt. European sportswear companies like Adidas and Puma traded lower, while retail companies such as Foot Locker also took a hit. Sportswear giant Nike (NKE) reported earnings and guidance that ...