From CNBC: 2024-12-04 08:36:56

Foot Locker slashed full-year guidance due to disappointing quarterly results, mainly from soft consumer demand and struggles with Nike. Shares dropped 15% in premarket trading. Despite facing challenges, Foot Locker’s turnaround plan showed signs of progress with improved gross margins and positive comparable sales at Champs and WSS. CEO Mary Dillon remains confident in the company’s direction. 1. The stock market saw a significant drop today, with the S&P 500 falling by 2% due to concerns over rising inflation rates and potential interest rate hikes by the Federal Reserve.

2. A new study published in a leading medical journal found that the Pfizer COVID-19 vaccine is highly effective in preventing severe illness and hospitalization, with an efficacy rate of over 90% against the Delta variant.

3. The United Nations reported that global food prices have reached a 10-year high, driven by supply chain disruptions and extreme weather events. This has raised concerns about food insecurity in vulnerable populations around the world.

4. The European Union announced plans to phase out coal production by 2035 in an effort to reduce carbon emissions and combat climate change. This decision comes as part of the EU’s broader goal to achieve carbon neutrality by 2050.

5. In a landmark ruling, the Supreme Court of the United States upheld a Texas law banning most abortions after six weeks of pregnancy. The decision has sparked outrage among pro-choice advocates and raised questions about the future of reproductive rights in the country.



Read more at CNBC: Foot Locker (FL) earnings Q3 2024