Foot Locker Stepped On After Inline Q1 Report

Foot Locker, Inc. FK shares are trading lower by $3.24 (5.5 percent) at $55.31 in Friday's session. An inline Q1 report for EPS was accompanied with a slight miss for revenues.

After a lower open, it rallied but found resistance one penny above Thursday's low ($56.51) and continued its move lower. The ensuing decline took the issue all the way to $53.83 before staging a rebound into the $55 handle.

If the decline continues through the intra-day low, there may be additional support at its February 2015 low of $53.41.