Nike’s stock on track for a 10th straight decline that would be longest losing streak on record

Nike Inc.’s stock
NKE,
-3.63%
fell 4% Wednesday to mark a 10th straight day of declines, weighed down by disappointing earnings from Foot Locker Inc.
FL,
-33.51%,
which swung to a loss, missed on sales and lowered its guidance, and said it would suspend its quarterly dividend to conserve cash. The news came a day after Dick’s Sporting Goods Inc.
DKS,
-2.53%
also published weak earnings and highlighted a big spike in shoplifting. Nike’s stock has fallen for 11 of the past 12 days and if today’s losses hold, it would be the stock’s longest losing streak on record, based on data that goes back to Dec. 2, 1980 provided by Dow Jones Market Data’s team. The stock has shed 17% in the year to date, while the S&P 500
SPX,
+0.96%
has gained 14%.