Foot Locker stock plunges, hits new 52-week low. What the pros say to do next

Pros on CNBC discussed Foot Locker after the retailer slashed guidance for the second time this year.

Market Movers rounded up the best reactions on Foot Locker from investors and analysts. The experts, including Jim Cramer , talked about the footwear retailer after it slashed guidance for the second time this year – five months after issuing it.

Foot Locker's second-quarter earnings met Wall Street estimates, but sales missed, falling nearly 10%. The retailer attributed the shortfall to "consumer softness," markdowns and shoplifting problems. The stock hit a new 52-week low during intraday trading Wednesday, closing down 28%. The stock Is currently held in Cramer's Charitable Trust portfolio.

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