Foot Locker, Inc. (NYSE:FL) share are trading lower by $12.00, or 25 percent, at $35.70 in Friday's session.
The catalyst for the huge decline is a Q2 EPS miss of 28 cents along with sales miss of $10 million. The company claims the shortfall was the result by the limited availability of innovative and new products in the market.
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See Also: Foot Locker Plummets As CEO Says Certain Sales Fell 'Well Short Of Our Expectations'
After a much lower open, Foot Locker rallied only 15 cents to $36.80 before continuing its spiral downward. So far, the ensuing decline has taken the stock to $35.25 and is attempting to reenter the $36.00 handle.
That marks the lowest level for the stock since November 2013, when it bottomed at $34.09.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.