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Foot Locker shares sink as inflation curbs spending, cuts annual forecast

Por: Fox Business Business August 23, 2023

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Dominick Tavella, President and CIO of Lebenthal Global Advisors, discusses retail reports, downgraded bank ratings and the major retailers' ongoing theft problems. Shares of tumbled Wednesday over 30% after the company cut its annual forecast, citing consumers who are pulling back on spending as inflation remains high.  We did see a softening in trends in July and are adjusting our 2023 outlook to allow us to best compete for... + full article



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