It's been a tough year for athletic footwear retailer Foot Locker (NYSE: FL) and, by extension, its shareholders. The stock tumbled in a big way following May's release of its first-quarter numbers and lackluster guidance.

Then it fell again this past week in response to the company's disappointing second-quarter results; the 10% year-over-year decline in sales dragged per-share profits down from $1.10 in the second quarter of last year to only $0.04 this time around.

All told, Foot Locker shares are down more than 60% from their February peak thanks to economic lethargy and the subsequent drying up of demand for expensive sneakers.

Continue reading

Source Fool.com