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FRANKFURT (dpa-AFX) - The US sports fashion manufacturer Nike has come up with a nasty surprise for the entire industry. The company disappointed investors on Thursday evening with its statements on sales development. The share price plummeted by almost 12 percent in after-hours trading in New York and dragged down the shares of Adidas and Puma in Germany on Friday morning.

Adidas shares were one of the worst performers on the Dax, losing around six percent, while Puma, the weakest MDax stock, also lost a similar amount. "Nike's statements have not been as relevant to the share prices of its competitors in recent quarters, but this bad news should also weigh on Adidas and Puma," predicted one trader before the stock market opened.

Nike is expecting a slight decline in sales in the current quarter. In the fourth quarter, revenues are expected to rise again, but only by a low single-digit percentage. Despite an increase, sales in the important Greater China region failed to meet market expectations.

"The depressed sales outlook is likely to be the focus of attention," wrote analyst Randal Konik from Jefferies, commenting on the reaction of investors. The past second financial quarter showed weakening demand. "That's not good," said the expert, referring in particular to weakening demand in North America. This is also an important sales region for Adidas and Puma.

Analyst Matthew Boss from JPMorgan noted that Nike only expects sales growth of one percent for 2024. This compares to a consensus estimate of plus 3.7 percent. Headwinds are blowing in the company's face from the economy in China and also in the Europe, Middle East and Africa region. Sales on the increasingly important digital sales channels are characterized by price discounts and incentives to buy.

The latter is also likely to drag down the share prices of online fashion retailers on Friday. Zalando was the biggest loser on the DAX, falling by 6.5 percent, ahead of Adidas. On the London Stock Exchange, Asos fell by 2.2 percent. The European retail sector was the second weakest on the sector table behind technology stocks./bek/tav/jha/