We are taking a bath on Foot Locker. Foot Locker (NYSE:FL) has just reported on its most anticipated earnings reports in company history. And truly this is one of the most disgusting moments in the company’s history. Honestly, how do you not preannounce something to soften the blow here. When we say this was the most anticipated report in recent history it is not an understatement. Just look at what has happened in the last year. Remember when we told you last spring that there was a rare opportunity in the stock of this spring? Had you purchased then, you would have seen a 45% gain if you sold at the top. Then, shares started cratering as all of retail has been decimated in the last 6 months. It has really been ridiculous the sentiment. There is a palpable belief that retail is dead, and very few retailer stocks have down well given the fears over Amazon (AMZN) taking over the world. All footwear and sporting goods related stocks have perhaps been hit the absolute hardest. And it is only getting worse with this report. This news comes not just from Amazon seeing record revenues, but news that Nike (NKE) would sell on Amazon. Those names selling footwear, in particular…..READ MORE
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