3 Reasons to Avoid Foot Locker Stock Like the Plague
Foot Locker (NYSE: FL) stock is getting cheap enough to show up on many value investors' radars. The retailer's shares are down by over 50% this year and are sitting at a 10-year low. You couldn't buy Foot Locker at this price even during the worst of the pandemic stock market crash.
The 2023 slump is being driven partly by industry conditions that won't last forever. Too much footwear supply, combined with more cautious consumer spending patterns, is forcing retailers to cut prices so inventory can keep moving. These factors are impacting many players, including Nike and .
But Foot Locker has some unique challenges that make it a far less attractive investment than its industry peers. Let's take a look at three specific issues.
Source Fool.com
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