1 Growth Stock Down 44% to Buy Right Now
It's been a tough year for Foot Locker (NYSE: FL), and by extension, its shareholders. The stock is down 44% from its 2023 peak, with most of that loss taking shape shortly after May's release of its first-quarter results.
Same-store sales slipped 9.1% year over year, prompting the company to lower its full-year guidance for a slew of fiscal performance measures. The effective end of COVID-19 pandemic restrictions seems to be working against this sneaker-centric retailer. Investors are concerned that this headwind could continue blowing indefinitely.
As Warren Buffett teaches us, though, we should be fearful when others are greedy, and greedy when others are fearful. This worry-based weakness is ultimately a buying opportunity fueled by a company-wide, top-down overhaul that most investors seem to be looking right past.
Source Fool.com
