Why Foot Locker Stock Was Sliding Today

Shares of Foot Locker (NYSE: FL) were falling today after the company posted disappointing top-line results in its fourth-quarter earnings report. Following strong growth in the third quarter, Foot Locker surprised investors with a decline in comparable sales in the fourth quarter, which fell 2.7%. Gross margin expanded 150 basis points to 33%, a positive sign, but selling, general, and administrative expenses also rose as a percentage of revenue, and adjusted earnings per share slipped from $1.63 to $1.55, though that was enough to clear the analyst bar at $1.35.