Foot Locker (FL) shares took a dive Wednesday after the company’s second-quarter results 🅺underwhelmed investors.

The sneaker retailer said revenue grew 1.9% year-over-year to $1.9 billion, just above the analyst consensus, per Visible Alpha. It posted a loss of 13 cents per shareജ, compared with ꦆ5 cents a year earlier and slightly wider than expectations. 

Shares of Foot Locker tumbled nearly 13% as of late morn🀅ing, pulling them about 8% into the red this year so far.

Foot Locker Closed Stores in South Korea, Denmark﷽, Norway, Sweden

Despite the top-line growth, Foot Locker left its full-year guidance unchanged. The company still expects between a 1% increase and 1% drop from its $8.15 billion in 2023 sales.

As part of its ongoing “Lace Up” plan, the company said it closed all stores and e-commerce operations in South Kore🎀a, Denmark, Norway and Sweden. It also reached a deal to transfer its presence in Greece and Romania to a European retail group.

All told, the company will close roughly 30 of its 140 stores in the Asia Pacific region and 629 stores in Europe by mid-2025.