Foot Locker Inc. reported disappointing third-quarter earnings, leading to a significant decline in its stock price. The retailer's Q3 sales fell by 1.4%, and earnings missed analyst expectations, prompting a 19% drop in shares. The company indicated a cautious outlook for the holiday season, particularly highlighting soft demand for Nike products. Despite a slight revenue improvement and a 2.4% increase in same-store sales, Foot Locker has lowered its full-year guidance, raising concerns about its performance during the crucial holiday shopping period. The company plans to emphasize newer Nike styles in its stores as part of its strategy to address the current challenges in demand.