Why Foot Locker Stock Fell 15% This Week

·2 min read

Foot Locker (NYSE: FL) shareholders lost ground to a falling market this week as the stock dropped 15% through Thursday trading compared to a 3.2% slump in the S&P 500, according to data provided by S&P Global Market Intelligence. It was driven by a poorly received earnings report from Nike, Foot Locker's key retailing partner. Nike said on Monday that sales trends held up well through late May and that consumer demand remained strong in key markets like the U.S. and Europe.