Foot Locker Stomped On After Q2 Miss

Foot Locker, Inc. FL share are trading lower by $12.00, or 25 percent, at $35.70 in Friday's session.

The catalyst for the huge decline is a Q2 EPS miss of 28 cents along with sales miss of $10 million. The company claims the shortfall was the result by the limited availability of innovative and new products in the market.

See Also: Foot Locker Plummets As CEO Says Certain Sales Fell 'Well Short Of Our Expectations'

After a much lower open, Foot Locker rallied only 15 cents to $36.80 before continuing its spiral downward. So far, the ensuing decline has taken the stock to $35.25 and is attempting to reenter the $36.00 handle.

That marks the lowest level for the stock since November 2013, when it bottomed at $34.09.