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Fly News Breaks for August 26, 2019
FL
Aug 26, 2019 | 07:34 EDT
Credit Suisse analyst Michael Binetti lowered his price target for Foot Locker to $53 from $65 after the company reported a "tough" Q2 with EPS of 66c below consensus on sluggish same-store sales of 0.8%-plus. Foot Locker did deliver same-store sales at the low end of guidance, but the analyst thinks the company should have guided lower given LSD trends in hand in May and knowing that key launches were shifting out of the quarter. Binetti reiterates an Outperform rating on the shares.
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