Rank & Company
Average Volume
Stock Price
52-Week High
52- Week Low
1) Nike, Beaverton, Ore.
1,677,100
$43.00
$64.28(Mar.20)
$40.50 (Aug. 15)
The world's largest athletic shoe company has not been immune to market volatility; its stock has lost nearly a third of its value since March 20. The price stock plunged in August after Nike said U.S. footwear futures orders from Foot Locker would 'likely be significantly below the prior year,' as the athletic retailer moves to reduce its emphasis on high-end sneakers, a category dominated by Nike. The stock lately has also been hit by slow sales of athletic shoes during the August back-to-school season.
2) Foot Locker, New York
1,537,700
$10.32
$17.95 (Mar. 8)
$8.90 (Aug. 8)
The juggernaut athletic footwear and apparel retailer's stock hit a 52-week low on Aug. 8 after saying it expected to post results at the lower end of its earlier stated, second-quarter earnings range. The chain attributed the lowered forecast to unfavorable sales trends and weak consumer confidence levels. In the end, the retailer's second-quarter profit did meet that re-stated forecast, but Foot Locker then narrowed its guidance for the second half, citing a challenging retail environment.
3) Reebok, Canton, Mass.
655,500
$24.87
$30.25 (July 9)
$18.50 (Oct. 17, 2001)
Reebok has spent the last year aggressively pumping up product offerings and advertising efforts in its quest to grab more market share in the competitive athletic category. The firm's efforts are paying off -- at least in terms of stock price, which has made significant progress in the past year and reached a 52-week high on July 9. But during the always-critical back-to-school season, athletic sales at retail were lower than expected, prompting a reactive drop in the stock's value during August and early September.
4) Skechers USA, Manhattan Beach, Calif.
384,600
$10.46
$24.40 (Apr. 24)
$10.00 (Oct. 25, 2001)
Skechers' tremendous growth streak of the past few years -- for example, revenues grew 42.3 percent, to $960.4 million, for the full year 2001 -- may have run into a roadblock recently. Although the stock saw its value increase significantly during the past year on continuing sales and earnings growth, it hit a snag on Sept. 6 when securities firm Wachovia downgraded Skechers to 'hold' from 'buy,' saying the company's growth appears to be slowing. At press time, the stock had TK
5) The Sports Authority, Fort Lauderdale, Fla.
316,200
$5.85
$14.85 (Apr. 19)
$3.10 (Sept. 21, 2001)
After several years of turnaround efforts, The Sports Authority enjoyed a huge leap in stock price over the first half of 2002, soaring 99 percent and hitting a 52-week high of $14.85 on April 19. Since then, the stock has dropped off due to general market volatility, sluggish back-to-school sales and a mixed earnings forecast. In August, the company eeked out higher profits. At the same time, it also predicted a wider-than-expected third-quarter loss, but a better-than-expected fourth-quarter profit.
6) Footstar, West Nyack, N.Y.
303,000
$10.62
$37.91 (Oct. 11, 2001)
$8.96 (Sept. 4)
Just when Footstar's executives probably thought things couldn't get worse, the company's stock slumped significantly during the last month. They had already seen their company's stock lose tremendous value since February, when it was trading at $25. After trading as high as $14.88 on Aug. 1, the stock hit a 52-week lot of $8.96 on Sept. 4. The company is faced with additional challenges besides the bankruptcy of its major partner Kmart, and due to weakness in its athletic division, the chain reported August same-store sales dropped more than 5 percent. In addition, Footstar said it expected third-quarter profit of 55 cents to 60 cents a share, way off the market's 97-cent consensus estimate.
7) Vans, Santa Fe Springs, Calif.
281,800
$6.80
$15.99 (Nov. 15, 2001)
$5.03 (July 26)
Vans has been enduring a difficult 2002. Its sagging sales were reflected in a stock price that slipped from $9.37 on June 10, to a 52-week low of $5.03 in little more than a month to land at $6.43 by Sept 10. The company said recently that same-store sales are down 8.5 percent for the quarter ended Aug. 31. That bad news comes on top of a $14.9 million loss reported for the quarter ended May 31.
8) Timberland, Stratham, Mass.
256,000
$36.56
$45.95 (Apr. 12)
$25.65 (Sept. 27, 2001)
Facing difficulties in its domestic footwear business, Timberland has endured a tough year to date. Timberland's stock traded between $35 and $37 from June to August, down from a 52-week high of $45.95 in April. But execs said in July the firm was getting back on track, with mid-single-digit revenue growth expected for the back half of the year.
9) Payless ShoeSource, Topeka, Kan.
208,800
$56.42
$64.70 (Mar. 19)
$41.20 (July 24)
Payless found itself caught in a sticky situation earlier this summer, enduring noticeable same-store sales decreases for June and July. But despite slumping sales, the value of its stock responded positively in August to a quarterly profit that rose a better-than-expected 30 percent. The company said reduced costs, improved inventories and a lower tax rate offset lower sales.
10) Candies, New York
189,900
$1.66
$5.28 (June 11)
$1.48 (Sept. 6)
Life on Wall Street hasn't been very sweet for Candies so far this month. The company's stock reached a new 52-week low this month, after it revised quarterly and full-year earnings downward, primarily due to lower-than anticipated gross margins in its wholesale footwear business. The company said Sept. 6 it now expects to report earnings of 11 cents to 12 cents a share on sales of $49 million for the second quarter ended July 31. It was a significant correction from June, when the company had reiterated its April projection that second-quarter earnings would reach 18 cents to 22 cents a share on sales of $50 million to $52 million.
Source: FN reporting, bigcharts.com. *Average volume for the 200-day period ended Sept. 10, 2002. **Stock price at close, Wednesday, Sept. 11, 2002
