Down 34% to 50% This Year, Can Chewy and Foot Locker Recover?
Sometimes stocks decline for all the wrong reasons. Wall Street can stay too focused on short-term concerns around a business or an industry, for example, while ignoring a company's bright future. Industry downturns are a regular part of the economic cycle, after all, and don't seriously threaten the long-term outlook for a company.
But shopping for deep discounts can also be risky because falling stocks aren't always due to bounce right back. So, which of these two situations better describes Foot Locker (NYSE: FL) and (NYSE: CHWY) shares, which have each declined sharply in 2023? Let's dive right in.
Foot Locker has reduced its fiscal-year outlook twice so far in 2023, giving investors plenty of reasons to consider selling the retailing stock, which is down about 50% year to date. Comparable-store sales fell by a painful 9% in the most recent quarter, and management warned about further weakness ahead as price-cutting continues to be necessary to attract shoppers into its stores.
Source Fool.com
Chewy Inc Stock
With 36 Buy predictions and 3 Sell predictions Chewy Inc is one of the favorites of our community.
As a result the target price of 26 € shows a positive potential of 22.24% compared to the current price of 21.27 € for Chewy Inc.
