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Shares of Foot Locker plummet, as earnings miss Wall Street estimates

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The retailer is under pressure as shoe companies, like Nike, have worked to sell directly to its customers, bypassing retailers all together.

Meantime, the broader shoe industry is facing its own challenges, as President Trump has threatened to lodge a tariff on footwear imported on China.Shares of

plummeted nearly 16 percent in morning trading Friday, as the shoe retailer's fiscal first-quarter earnings missed Wall Street profit and revenue estimates.

 

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