Why Foot Locker Stock Is Sinking Again Today
Foot Locker (NYSE: FL) stock is falling in Wednesday's trading. The company's share price was down 12.3% as of 12:30 p.m. ET, according to data from S&P Global Market Intelligence.
Foot Locker published second-quarter results before the market opened this morning and actually delivered results that beat Wall Street's expectations on most key fronts. But management paired the release with some concerning business commentary and underwhelming forward guidance, and the stock is losing ground in today's trading.
Foot Locker reported a loss of $0.05 per share on sales of $1.9 billion in the second quarter. For comparison, the average analyst expected the business to post a per-share loss of $0.07 on revenue of $1.89 billion.
Source Fool.com
