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