Why Foot Locker Shares Got Tripped Up Today
Shares of sportswear specialist Foot Locker (NYSE: FL) slipped 2.7% through 11:25 a.m. ET this morning despite reporting a sizable beat for its 2022 fourth quarter.
Heading into the quarter, analysts had predicted Foot Locker's adjusted earnings would fall by more than two-thirds to $0.51 per share on sales of $2.2 billion. As it turned out, the company did $2.3 billion in sales -- and adjusted earnings were $0.97 per share.
That's the good news. The bad news is that while Foot Locker's earnings weren't down quite as badly as Wall Street had expected, they were still down pretty significantly.
Source Fool.com
