NEW YORK — Shares in several major sports chains hit 52-week lows on word that Nike may soon be selling its gear directly on Amazon.com. Goldman Sachs said Wednesday it believed the deal would give Nike better exposure to Amazon’s huge retail channel and customer base, especially millennials. Nike goods can already be found on Amazon subsidiary Zappos.com and its shoes and gear can be found through third-party sellers on Amazon.com. It doesn’t take much to spook investors in the sporting goods sector, however. The sale of Nike goods on Amazon.com is unlikely to make anything easier for sports retailers.

Source: National Post June 21, 2017 17:48 UTC