Foot Locker’s second-quarter results fell short of expectations, causing its stock to drop nearly 13%. The company reported a modest revenue increase of 1.9% year-over-year, totaling $1.9 billion, slightly exceeding analysts’ forecasts. However, it suffered a loss of 13 cents per share, compared to a profit of 5 cents per share last year, which was worse than anticipated. Despite maintaining its full-year outlook for flat sales, the company’s strategic “Lace Up” initiative includes closing operations in South Korea, Denmark, Norway, and Sweden, and transferring its Greek and Romanian operations. Concerns about Foot Locker’s financial stability continue to rise as it restructures its business.