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Why Foot Locker Stock Tumbled 39% Last Month

TheMotleyFool

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Why Foot Locker Stock Tumbled 39% Last Month

Shares of Foot Locker (NYSE: FL) were sliding along with much of the apparel retail industry as the consumer discretionary sector got crushed by the coronavirus pandemic. The spreading outbreak has forced nonessential retail stores like Foot Locker to close across the country, leaving the online channel as the company's only source of business for now.

As a result, the stock gave up 39% last month, according to data from S&P Global Market Intelligence. The chart below shows how shares fell sharply lower in the first half of the month.