Foot Locker Inc (FL)

Foot Locker's stock plummets as Q2 sales miss Wall Street's mark, leading to a suspension of dividends and a downward revision of full-year guidance. While certain valuation metrics appear attractive, the company's ability to reverse its current downward trajectory remains uncertain.

https://www.fool.com/investing/2023/08/23/foot-locker-shares-crumble-amid-consumer-softness/

FL's stock fell 8.54% after they announced its latest financial results and further declines came on 22 May for Foot Locker. On Monday, a host of analysts weighed in negatively on Foot Locker's stock, with price target cuts and downgrades.

https://www.nasdaq.com/articles/these-2-stocks-are-raising-recession-fears

FL's stock fell 27.24% due to the company’s earnings report for the first quarter of 2023. The bad news for FL stock starts with the company’s adjusted EPS of 70 cents, down from the 1.60 reported in the same period of the year prior. That’s well below the 81 cents per share that Wall Street had expected for the quarter. Revenue of $1.93 billion came in below analysts’ estimate of $1.99 billion for the period. That also represents an 11.4% decrease compared to revenue of $2.18 billion in Q1 2022.

https://investorplace.com/2023/05/why-is-foot-locker-fl-stock-down-25-today/

The fourth final quarter earnings of Foot Locker surpass the estimate, however, both earnings and revenues declined year over year. This suggests that the company faced some challenges in terms of maintaining its financial performance, potentially due to factors such as increased competition or changing consumer preferences. Despite this, it's still positive news that the company was able to beat expectations for the quarter, which may help to boost investor confidence and improve the company's outlook moving forward.