Foot Locker stock crashes 30% as company cuts forecast again citing 'price-sensitive consumers'

Shares of Foot Locker (FL) plummeted by 34% after the company reduced its full-year outlook for the second consecutive quarter, suspended its quarterly dividend, and reported a steeper decline in comparable sales, attributing the struggles to a challenging consumer backdrop.

yahoo.com

Relevant topic timeline:

8/23/2023

Foot Locker Shares Plummet 33% After Sales Decline

Foot Locker's shares dropped by almost 33% as the shoe retailer reported a decline in quarterly sales due to "consumer softness" and an increase in shoplifting, echoing the challenges faced by other major retailers in the current economic climate.