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Foot Locker is crashing after a big earnings miss (FL)

Foot Locker is down about 20% in premarket trading on Friday after releasing dismal second-quarter results. The sneaker retailer reported earnings of $0.39 a share, much lower than Wall Street's estimates of $0.89. Revenue was also light, coming in at $1.7 billion, which was lower than the $1.8 billion that was expected by the Bloomberg consensus. Additionally, same-store sales slumped 6% versus a year ago.
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