: Foot Locker on track for worst week since November of 2008 after earnings disappointment


Foot Locker Inc.’s stock FL, -1.43% has fallen 32.2% this week, putting it on track for its worst week since November of 2008, when the financial crisis was slamming the market, according to Dow Jones Market Data. The stock has been clobbered by the sporting goods retailer’s weaker-than-expected second-quarter earnings, which showed it swinging to a loss and suspending its dividend to conserve cash. Dick’s Sporting Goods Inc., meanwhile, saw its stock DKS, -1.66% fall 21.7%, to put it on track for its worst week since March of 2020 as the pandemic was heating up. Dick’s second-quarter profit missed Wall Street’s consensus estimate by a wide margin, while sales also fell short, and the company squarely blamed shoplifting for its woes.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: Could generative AI do a CEO’s job? Here’s what an Ivy League MBA professor says.
Next articleFed chair Jerome Powell dismissive of calls to raise 2% inflation target


Please enter your comment!
Please enter your name here