Why Foot Locker Stock Slumped This Week

Foot Locker (FL -1.23%) investors were seeing red this week. Their stock was trading down by 29% through early Friday trading compared to a 1% rally in the wider market, according to data provided by S&P Global Market Intelligence. That slump added to a difficult period for shareholders in the footwear retailer. Its stock has fallen 43% in the past year, even as the S&P 500 has gained 30%.This week's decline came as Wall Street learned that Foot Locker's growth rebound will take longer than management initi ...