Foot Locker’s first-quarter results miss Street forecasts; cuts earnings outlook

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Shares of Foot Locker tumbled in early trading Friday on weak profit and revenue numbers. The shoe retailer also cut its outlook for the year.

Foot Locker now expects full-year earnings per share to be up by high-single digits, a more reserved outlook than the double digit increase it had forecast earlier. The company cited its $1.2 billion stock repurchase program announced in February.

Shares of Foot Locker tumbled 11% before the market opened Friday.

Wall Street may…



Source cnbc.com

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