Cramer says Foot Locker’s falling revenue shows the risk in mall stocks

Business


Shoppers stand in line to enter a Foot Locker Inc. store at the Queens Center shopping mall in the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020.

Peter Foley | Bloomberg | Getty Images

A disappointing quarter from Foot Locker should make investors pause and reconsider the future of some mall-based stores, CNBC’s Jim Cramer said Friday.

The shoe retailer’s fourth-quarter revenue came in $100 million below what analysts surveyed by Refinitiv were expecting. Comparable store sales decreased 2.7% year over year. Shares of the company fell about 9% on Friday morning.



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