Consumer Stocks Dragged Down By Nike -- Consumer Roundup

Dow Jones06-29

Consumer stocks fell after disappointing results from industry bellwether Nike.

Nike shares fell sharply as the sneaker and sportswear company now expects revenue to drop this fiscal year as it cut its outlook amid lower traffic trends and worsening macroeconomic conditions in China.

Tractor Supply, a rural retailer that is known for selling animal feed and workwear, said it is done with corporate diversity and many environmental efforts, a striking reversal as more companies face criticism of these initiatives from conservative activists.

Write to Patrick Sullivan at patrick.sullivan@wsj.com

(END) Dow Jones Newswires

June 28, 2024 17:31 ET (21:31 GMT)

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