Jim Cramer talks next moves for Foot Locker after rotten quarter, 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 holding Foot Locker (FL) reported disappointing fiscal 2023 first-quarter results and guidance before the opening bell Friday. A need to flush out elevated inventories weighed on the numbers and the stock.