Foot Locker (NYSE: FL) stock has fallen roughly 35% year to date as the COVID-19 pandemic forced brick-and-mortar businesses to close their stores. Over the past month, the footwear and athletic apparel retailer pulled its full-year guidance, tapped its revolving credit facility, and furloughed a large portion of its employees.
Those moves weren't surprising, but Foot Locker stock now pays a forward yield of 6.5% following the sell-off. Will that high yield set a floor under the stock, or will its decline continue through the rest of 2020?
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Source Fool.com