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Breitbart Business Digest: Foot Locker Is Losing a Race Against Bidenflation

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If Biden's economic programs really were working to grow the economy 'from the bottom up and the middle out,' Foot Locker would be thriving.

Foot Locker.

Back-to-back guidance downgrades have shaken confidence in the ability of the company to manage through the economic cycle and“We did see a softening in trends in July and are adjusting our 2023 outlook to allow us to best compete for price-sensitive consumers, while still leaning into the strategic investments that drive our Lace Up plan,” CEOIt’s a bit surprising that investors were caught so flat-footed when it comes to the giant shoe retailer.

Athletic footwear is offered for sale at a Foot Locker store on August 2, 2021 in Chicago, Illinois.

 

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Foot Locker's stock tumbles 28% as company suspends dividend after swinging to a lossFoot Locker posted a surprise loss for its second quarter, sales that fell short of estimates and cut its guidance.
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