Why Foot Locker Stock Collapsed on Friday
Shares of Foot Locker (NYSE: FL) were trading down 25% as of 11 a.m. ET on Friday after the retailer announced disappointing sales performance for the first quarter. Total sales fell 11.4% year over year, with comparable-store sales down 9.1%. The company has struggled to deliver consistent revenue and earnings growth, which has contributed to the stock's underperformance in recent years.