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Foot Locker Plunges Most Since 2017 as Sales Miss Estimates

  • Athletic-shoe retailer cuts full-year earnings guidance
  • Industry faces prospect of damaging tariffs amid trade war
Foot Locker Inc. signage is displayed on the window of a store in downtown Chicago, Illinois, U.S., on Sunday, May 13, 2018. Foot Locker Inc. is scheduled to release earnings figures on May 25.
Foot Locker Inc. signage is displayed on the window of a store in downtown Chicago, Illinois, U.S., on Sunday, May 13, 2018. Foot Locker Inc. is scheduled to release earnings figures on May 25.Photographer: Christopher Dilts/Bloomberg
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Foot Locker Inc. fell the most in nearly two years after it reported first-quarter sales and profit that missed analysts’ estimates.

The athletic-shoe retailer’s shares tumbled as much as 19% in New York trading, the most since August 2017. The stock is now at its lowest level in a year, erasing a series of gains over the past six months.