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Foot Locker's Dividend Is in Trouble

Foot Locker's Dividend Is in Trouble

Footwear retailer Foot Locker (NYSE: FL) is having all sorts of trouble coping with the current economic environment. Adjusted profits crashed by more than 50%, free cash flow fell deep into negative territory, and inventories rose dramatically. The company declared its standard quarterly dividend of $0.40 per share, but investors shouldn't expect that payout to stick.