For Foot Locker Inc., kicking the Nike habit is hard.
Shares in the New York City-based footwear and apparel retailer tumbled more than 20% in premarket trading Friday after the company said it expects weaker sales and profits this year due to efforts to overhaul its business. It also said it didn’t expect the same lift to consumers’ bank accounts from government stimulus in 2022 as in the year prior.
