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Benzinga

Business

Henry Khederian

Why Nike, Target And Etsy Shares Are All Falling Today

Etsy NIke Target (Organization) NYSE Etsy Inc Nasdaq Nike Inc Target Corporation

Nike Inc (NYSE:NKE), Target Corporation (NYSE:TGT) and Etsy Inc (NASDAQ:ETSY) shares are all trading lower Friday as shares of retail companies are trading lower following worse-than-expected May CPI data. Rising inflation could decrease consumer spending and negatively impact retail names. Concerns of an economic slowdown have also pressured discretionary stocks.

According to the Bureau of Labor Statistics, the all-items CPI figure increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.

See Also: Apple Reportedly Plans For a Bevy Of Laptops Armed With Powerful In-House Chips

According to data from Benzinga Pro, Nike is trading lower by 2.94% to $115.11; Target is trading lower by 2.81% to $150.20; Etsy is trading lower by 8.35% to $76.13.

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