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Shares of Foot Locker, Nike down amid Finish Line profit warning

Shares of Foot Locker Inc. FL, -0.50% fell more than 2% late Monday after competitor Finish Line Inc. FINL, -2.34% warned of lower profits. Shares of Nike Inc. NKE, -0.32% were down 1.4% in late trading. Both stocks ended the regular session down less than 1%. Finish Line said earlier Monday its per-share earnings in the third quarter will come below Wall Street expectations and predicted a decline in sales and profit for the year amid a drop in sales in the first half of the year. Footwear retailers earlier this month were dogged by a rash of analyst downgrades following concerns about changing consumer preferences and deep promotions. Finish Line shares were down more than 23%.


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