U.S. Markets close in 41 mins

Shares of Foot Locker plunge 16% as earnings miss Wall Street estimates

Lauren Hirsch

Shares of Foot Locker plummeted as the company missed Wall Street profit and revenue estimates. The retailer is under pressure as shoe companies, like Nike, have worked to sell directly to customers, bypassing retailers all together. The broader shoe industry is facing its own challenges as President Trump has threatened to levy tariffs on footwear imported from China.