Updated from 11:43 a.m. EDT

Shares of Sports Authority ( TSA) were among the NYSE's losers Thursday after the company warned that its second-quarter earnings would fall short of expectations.

The sporting goods retailer now expects to earn 41 cents to 48 cents a share vs. previous guidance of 70 cents a share . It also expects to post a same-store sales decline of 4% to 5%. Previously, it said that same-store sales would be unchanged. The company cited unusually cool and wet weather in its key markets and a slowdown in its fitness-equipment business for the earnings shortfall. Shares of Sports Authority traded down $5.08, or 16.7%, to $25.37.

Steven Madden ( SHOO) tripped after warning that second-quarter earnings and sales would fall short of expectations. The shoe designer now expects to earn 25 cents to 28 cents a share on sales of $85 million to $86 million. Analysts had expected it to earn 34 cents a share. The company said the shoe market has "remained challenging" and several divisions faced "even greater pressure than expected." Looking ahead, the company expects to report full-year earnings of $1 to $1.03. Analysts had expected it to earn $1.36 a share. Shares of Steven Madden traded down $1.60, or 8.6%, to $17.08.

Shares of West Marine ( WMAR) fell after it reported in-line second-quarter earnings and sales but warned that third-quarter results would fall short of expectations. The boating supplies retailer reported a second-quarter profit of $1.17 a share on sales of $252.6 million. Looking ahead, the company said that customers "appear to have tightened their wallets recently," which will lead to a third-quarter earnings and sales shortfall. West Marine now expects to earn 43 cents to 44 cents a share on sales of $195 million to $197 million. Analysts had expected it to earn 49 cents a share on sales of $203.9 million. Shares of West Marine traded down 73 cents, or 3.5%, to $20.13.

Skechers ( SKX) rose after it reported better-than-expected second-quarter earnings. The footwear company earned 21 cents a share on sales of $234.7 million. Analysts had expected it to earn 17 cents a share on sales of $242.1 million. Looking ahead, Skechers expects third-quarter earnings of 15 cents to 20 cents a share on sales of $235 million to $245 million. Analysts are looking for it to earn 17 cents a share on sales of $238.9 million. Shares of Skechers traded up $1.17, or 9.8%, to $13.10.

Shares of Reebok ( RBK) rose after the company reported better-than-expected second-quarter earnings. Excluding items, the sneaker maker earned 46 cents a share on sales of $814 million. Analysts had expected it to earn 39 cents a share on sales of $822.9 million. Looking ahead, Reebok said that it is on target to achieve its earnings goal for the year. Shares of Reebok traded up $1.51, or 4.8%, to $33.20.

NYSE volume leaders included Lucent ( LU), down 8 cents to $3.29; Nortel Networks ( NT), down 3 cents to $4.28; Dex Media ( DEX), up 50 cents to $19.50; Motorola ( MOT), up 74 cents to $15.61; and General Electric ( GE), up 28 cents to $32.88.

Nasdaq volume leaders included Microsoft ( MSFT), up 14 cents to $29; Intel ( INTC), up 71 cents to $23.27; Cisco ( CSCO), up 22 cents to $21.39; Oracle ( ORCL), up 1 cent to $10.36; and Applied Materials ( AMAT), up 31 cents to $16.93.