[UPDATED] Footwear Company Stocks Down on NYSE Halt

Update: 3:15 p.m. (EST)

Trading has resumed on NYSE and NYSE market according to a tweet from NYSE.

 

What We Reported Earlier

Share prices of footwear and apparel companies are declining across the board this afternoon following an “internal technical issue” that has suspended trading across all symbols on the New York Stock Exchange (NYSE) since 11:32 a.m. (EST) Wednesday.

The NYSE has tweeted that the glitch is not the result of a cyber breach.

“We chose to suspend trading on NYSE to avoid problems arising from our technical issue … NYSE-listed securities continue to trade unaffected on other market centers,” the NYSE said in a series of posts on its official Twitter account.

Other exchanges, including the Nasdaq and BATS, are continuing to operate during the halt, meaning investors can continue to trade.

However, the NYSE’s pause appears to be taking at least a temporary toll on the stocks of many major footwear and apparel players — including Skechers USA Inc., Nike Inc., Lululemon Athletica Inc. and Wolverine World Wide Inc.

At 1:55 p.m. (EST), Skechers was down more than 2 percent, Lululemon declined by 1.86 percent and Nike’s share price had taken a 1.12 percent dip.

Other factors, mainly the economic uncertainty currently surrounding both China and Greece, are likely contributing to the stock declines, market watchers say.

The NYSE posted its most recent bulletin update on its website at 12:01 p.m.

“NYSE Arca and NYSE Amex/Arca Options are unaffected by this issue and continue normal operations at this time,” the update stated.

Continue to check in with Footwear News for more updates as this situation unfolds.

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