Nike, Foot Locker shares plunge on weak sales outlook
A shopper leaves a Nike store along the Magnificent Mile shopping district in Chicago with a purchase on Dec. 21, 2022.Scott Olson | Getty ImagesNike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker retailer Foot Locker also feeling the blow.The stock was down more than 11% in premarket trading Friday. Foot Locker, which relies heavily on Nike products in its stores, was down over 7%.Nike said in its earnings report Thursday that the company now expects its…