Why Foot Locker Stock Plunged Today
Shares of Foot Locker (NYSE: FL) are down 18.8% as of 3:40 p.m. EDT Friday after the footwear retailer announced weaker-than-expected second-quarter 2019 results.
More specifically, Foot Locker's quarterly sales declined 0.4% year over year to $1.774 billion, translating to adjusted (non-GAAP) net income of $72 million, or $0.66 per share (down from $0.75 per share a year earlier). But analysts, on average, were anticipating earnings of $0.67 per share on much higher revenue of $1.82 billion.
IMAGE SOURCE: FOOT LOCKER.
Source Fool.com
