This is what I thought in May 2020 when I first bought the stock...
Foot Locker is a large, well-known mall-based retailer of athletic footwear with a global footprint and a stable of iconic retail brands. They had a respectable long-term track record, a strong balance sheet and had held up better than many retailers during the industry weakness of the preceding several years. Because of fears over the coronavirus and its effect on the retail landscape, I was able to pick up this high-quality name at a share price just under $27 for 5 times recent earnings.
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Portfolio Review – June 2020 May 29, 2020