Investing.com - Foot Locker Inc (NYSE:FL) closed Friday’s session down over 27% after the company released its latest, disappointing earnings.
Foot Locker earned $51 million, or 39 cents a share in the second quarter, down from $127 million, or 94 cents a share, a year earlier. Adjusted earnings were 62 cents per share, well below the 90 cents analysts expected.
Total revenue fell 4.4% to $1.7 billion, and missed analysts forecast for $1.8 billion.
A key metric for the retail sector, same store sales, plunged 6% whereas analysts were expecting 1.7% growth.