Sneaker giant Nike, Inc.’s stock fell for the tenth consecutive day Wednesday as it closed with an approximate 2.7% dip.
The company’s 10-day stock dip is Nike’s longest consecutive losing streak in its 43-year history on the stock market.
Nike’s declining stock coincides with U.S. consumers’ current spending pullback on soft goods.
Major sporting goods retailers such as Foot Locker and Dick’s Sporting Goods have also been affected by consumers’ tightening wallets, with both companies reporting declining sales in Q2.
