Foot Locker shares plunge after weak sales
Investors dumped Foot Locker like a stinky pair of trainers after the firm reported slow quarterly sales.
The New York athletic-wear chain said sales in the February-to-April period rose 0.5% from 2016 at stores open at least a year.
The news sent shares of the company down 15% in trade on Friday morning.
Chief executive Richard Johnson said he was "not satisfied" with the results. The firm is crafting a "plan B" for the year, focused on controlling costs.
Total Foot Locker sales topped $2bn, up 0.7% year-on-year, thanks to some new stores.
But delayed tax refunds in the... read more
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