Why Foot Locker Inc. Stock Fell 25.3% in August

Shares of Foot Locker (NYSE: FL) plunged 25.3% in August, according to data from S&P Global Market Intelligence, after the company posted painful second-quarter results.

Virtually all of the footwear retailer's decline last month came on Aug. 18, the first trading day after it announced that quarterly same-store sales fell 6% year over year, which helped translate to a 4.4% decline in revenue to $1.7 billion. Foot locker also saw adjusted net income fall to $81 million, or $0.62 per share, compared with $127 million, or $0.94 per share in the same year-ago period.

Analysts, on average, were looking for significantly higher revenue of $1.8 billion, and adjusted earnings of $0.90 per share.

Source: Fool.com