Nike, Foot Locker shares plunge after sneaker maker cuts revenue outlook

A shopper leaves a Nike store along the Magnificent Mile shopping district in Chicago with a purchase on Dec. 21, 2022.Nike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker retailer Foot Locker also feeling the blow.The stock was down more than 11% in premarket trading Friday. Foot Locker, which relies heavily on Nike products in its stores, was down over 7%.Nike said in its earnings report Thursday that the company now expects its revenue to g ...