Foot Locker Has Another Imperfect Year in 2019, but Remains Mighty Cheap
Caught up in the coronavirus-fueled sell-off that has wreaked havoc on the stock market so far this year, shares of Foot Locker (NYSE: FL) are down 18% so far in 2020. The sneaker retailer's value has now been cut in half over the last three-year stretch as ongoing worry that e-commerce disruption -- specifically direct-to-consumer selling efforts from shoe manufacturers like Nike (NYSE: NKE) -- will hurt the shopping mall staple.
The fourth quarter of 2019 left shareholders feeling underwhelmed as well, but Foot Locker has a plan. Stable profitability means the company is able to invest to try and reignite growth, and a hefty dividend yield doesn't hurt either.
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Source Fool.com
