(NYSE: NKE) stock lost ground in Wednesday's trading. The footwear and apparel company's share price closed out the daily session down 2.9%, according to data from S&P Global Market Intelligence.

Nike stock posted another day of stock decline due to information contained in Foot Locker's second-quarter report and conference call. While Foot Locker actually beat sales and earnings expectations in Q2, the retailer announced moves it will be making in 2025 that suggest headwinds for Nike.

Foot Locker actually delivered some pleasant surprises with its second-quarter report. While the business posted a non-GAAP (adjusted) loss of $0.05 per share in the quarter, the performance beat the average analyst estimate's call for an adjusted loss of $0.07 per share.

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Source Fool.com