Foot Locker stumbles over performance

Foot Locker Inc. fell the most in nearly two years after it reported first-quarter sales and profit that missed analysts’ estimates.

The retailer’s shares tumbled as much as 19 percent in New York trading, the most since August 2017. The stock is at its lowest level in a year, erasing gains over the past six months.

Same-stores sales, a key metric in retail, also missed estimates. The company said its store traffic was down by a low-single-digit percentage, offset partially by digital gains.

It attributed the sales miss to weaker foreign currencies, which reduced revenue by $42 million on a constantcurrency basis.