Foot Locker price target lowered to $17 from $31 at Barclays

Barclays lowered the firm’s price target on Foot Locker to $17 from $31 and keeps an Equal Weight rating on the shares. Foot Locker’s Q2 results were in-line with lowered expectations, but softer exit trends in July and August led to a sharp reduction in the full year outlook as the company ramps promotions to drive demand with its pressured core consumer, the analyst tells investors in a research note.