Foot Locker Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
Foot Locker's stock is trading lower after several analysts cut price targets following the company's disappointing Q1 earnings results. The company reported revenue of $1.93 billion, missing estimates of $1.99 billion, and adjusted earnings of 70 cents per share, falling short of estimates of 81 cents per share. Foot Locker also lowered its guidance for full-year 2023.
May 22, 2023 | 1:02 pm
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Foot Locker's stock is trading lower after disappointing Q1 earnings results and lowered guidance for 2023, leading several analysts to cut price targets.
Foot Locker's stock is trading lower due to the company's worse-than-expected Q1 earnings results and lowered guidance for 2023. This has led several analysts to cut their price targets on the stock, indicating a negative short-term impact on the stock price.
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