Foot Locker Shares Tumble with Rest of Retail Sector, OTR Global Concerned with Q2 Sales

Shares of Foot Locker FL are trading down more than 6 percent on very heavy volume Tuesday morning. Some traders are attributing the weakness to a note from OTR Global earlier. The firm believes increased competition and price sensitivity have caused traffic to fall within the US. OTR Global now says it is mixed on Foot Locker shares. In addition, the entire retail sector is getting crushed Tuesday morning. The SPDR S&P Retail ETF XRT is down more than 2 percent at last check. An analyst at Janney Capital earlier downgraded the Softline Retail sector to Underweight. Foot Locker shares last traded at $35.27.