Tuesday, May 28, 2019

Foot Locker Plunges Most Since 2017 as Sales Miss Estimates

NREI
Foot Locker Inc. fell the most in nearly two years after it reported first-quarter sales and profit that missed analysts’ estimates.

The athletic-shoe retailer’s shares tumbled as much as 19% in New York trading, the most since August 2017. The stock is now at its lowest level in a year, erasing a series of gains over the past six months.

Same-stores sales, a key metric in retail, also missed estimates. . . . more