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Foot Locker bullish on outlook despite Nike pullback

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Foot Locker bullish on outlook despite Nike pullback via IrishTimesBiz

led to massive selloffs in those stocks and across the industry. US retailers have struggled with accelerating inflation as it cuts into profits and hinders shoppers’ purchasing power.

Comparable-store sales, a key retail metric, fell 1.9 per cent in the first quarter to April 30th. That was better than the 3.5 per cent loss expected by analysts. Apparel significantly outpaced shoe sales in the quarter.

 

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