Home Business Cramer says Foot Locker’s falling income exhibits the chance in mall shares

Cramer says Foot Locker’s falling income exhibits the chance in mall shares

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Customers stand in line to enter a Foot Locker Inc. retailer on the Queens Middle shopping center within the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020.

Peter Foley | Bloomberg | Getty Photos

A disappointing quarter from Foot Locker ought to make buyers pause and rethink the way forward for some mall-based shops, CNBC’s Jim Cramer stated Friday.

The shoe retailer’s fourth-quarter income got here in $100 million under what analysts surveyed by Refinitiv had been anticipating. Comparable retailer gross sales decreased 2.7% yr over yr. Shares of the corporate fell about 9% on Friday morning.