The Bad News for Nike in Foot Locker's Sales Update
Nike (NYSE: NKE) won't announce its fiscal first-quarter results until late September, but investors already have some valuable clues about what to expect in that report. Foot Locker (NYSE: FL), which counts the sports apparel titan as its biggest supplier, just issued an operating update ahead of its official quarterly announcement in late August. Foot Locker revealed that comparable-store sales returned to positive territory in May, June, and July.