Shares of Nike Inc hit 2-1/2 year lows on Friday and rattled those of other athletic gear makers, after the company's warning of a margin squeeze from widespread markdowns sparked worries of sector-wide contagion of ballooning inventory.
The world's largest sportswear maker on Thursday became the latest in a line of consumer brands and retailers to underscore the pressure on margins from ramped up discounts, as companies rush to get rid of excess inventory amid slowing demand.
