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
- 07:19 North Berwick tops list of Scotland’s most expensive seaside towns
- 07:19 Arsenal v Chelsea: Graeme Le Saux reveals FA Cup final prediction
- 07:19 The Kirk praised for helping tackle poverty and inequality by...
- 07:19 New poll showing Theresa May’s lead slipping will ‘focus minds’...
- 07:19 RISE AND SHINE: Live travel updates, weather and fun quizzes
- 07:19 Police launch investigation into abuse of Conservative canvassers
- 07:19 Labour to tap into Obama campaign technology to target swing voters
- 07:19 Theresa May: Recruits returning from IS must be brought to justice
- 07:19 Constituency profile: Nationalists face Unionist challenge in ‘big...
- 07:19 Jeremy Corbyn accused of deflecting blame in terror speech
- 07:17 Greville Janner: Alleged victims of sexual abuse drop civil case
- 07:17 Restaurant review: Marco’s Italian, Leeds
- 07:17 Birdwatch: Red feet as the weather warms up
- 07:15 Burton Albion team to take on Football to Amsterdam 2017 challenge...
- 07:14 Monaco Grand Prix qualifying: Double winner reveals pole position...
- 07:14 Paper round-up: Arsene Wenger’s new two-year deal, Antonio Conte's...
- 07:13 Zinedine Zidane denied in pursuit of Bundesliga star for Real...
- 07:11 Five Manchester United players who Jose Mourinho should build his...
- 07:09 Mum’s the word
- 07:09 Gareth Shaw: Will Vanguard force fund managers to up their game?
- 07:09 Interview: Joe Thomas
- 07:07 Police forces will receive support from the strategic policing reserve
- 07:07 Allenton thug hit door with chair leg so hard it bounced back and...
- 07:06 North East armed police officer snapped blowing kisses after being...
- 07:06 Pam Duxbury: New Hartlepool United manager knows what it takes to...
- 07:05 15 things you can only relate to if you have a vagina
- 07:04 Review of Nibble in Hull: The hipster destination with a menu that...
- 07:04 Palestinian inmates in Israeli jails end hunger strike: Prison Service
- 07:04 Philippines' Duterte jokes about rape amid concern over martial law...
- 07:02 FARMING MATTERS: Farmers are at greater risk of skin cancer