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Here’s why Jim Cramer is sticking with Foot Locker despite a terrible quarter and big stock drop

Shoppers and pedestrians pass in front of a Foot Locker store on the Third Street Promenade in Santa Monica, California.

Patrick T. Fallon | Bloomberg | Getty Images

Club team Foot Locker (FL) reported disappointing first-quarter 2023 financial results and guidance before the open Friday. A need to flush out elevated inventory weighed on numbers and inventory.

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