Adidas, Puma, and JD Sports shares slump after Nike warning

Shares in the world’s top sportswear companies slumped on Friday after apparel giant Nike lowered its sales forecasts, warning of a drop in consumer spending, and outlined plans to make $2 billion worth of cost savings over the next three years.Adidas ADS, -5.70%, Puma PUM, -6.29%, and JD Sports Fashion JD, -5.38% shares all fell on Friday morning after shares in Nike NKE, +0.91% tumbled 12% during Thursday’s after hours trading session, following publication of its fourth-quarter results. Adidas shares fel ...