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The Last Time Foot Locker Stock Was This Cheap, It Was a 17-Bagger in 7 Years. Could This Be a Deep Value Stock Again?

TheMotleyFool

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The Last Time Foot Locker Stock Was This Cheap, It Was a 17-Bagger in 7 Years. Could This Be a Deep Value Stock Again?: https://g.foolcdn.com/editorial/images/745297/serious-thoughtful-person-laptop-home-setting.jpg

In 2008, as the Great Recession was gaining momentum, business was bad for shoe retailer Foot Locker (NYSE: FL). During its fiscal 2008 (which ended in January 2009), sales dropped almost 4% year over year (YOY), and the company had an operating loss of $103 million. The market consequently gave up on the stock.

Shares of Foot Locker hit their lowest valuation over the last 20 years in November 2008. At their lowest point, shares traded for just 0.16 times trailing sales, as the chart below shows.