Foot Locker's stock falls ahead of Q3 earnings; previous 2 reports were major disappointments
Shares of Foot Lock Inc. fell 0.7% in afternoon trading, on track for a fourth-straight loss, ahead of the athletic shoe and accessories retailer's fiscal third-quarter results. The company is expected to report ahead of Friday's open EPS of $1.08, sales of $1.94 billion and same-store sales growth of 5.1%. Investors may be worried about a repeat of recent history, as the stock plunged 19% on Aug. 23 the day second-quarter results were reported and tumbled 16% on May 24 after first quarter results. In both of those previous quarters, Foot Locker missed profit, sales and same-store sales expectations. The stock has tumbled 21% year to date, while the SPDR S&P Retail ETF has gained 5.7% and the S&P 500 has climbed 24%.
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