Steve Russell/Toronto Star via Getty Images Investment Thesis Foot Locker (NYSE:FL) is a shoe and sportswear retailer. The current consumer spending downturn has hammered Foot Locker's share price, falling almost 40% over the trailing twelve months. Foot Locker has embarked on a strategic shift in the meantime. Through a pivot toward off-mall "new format" stores, more partnerships, and an expansion into Asia, Foot Locker hopes to establish brand loyalty and appeal to broader consumers. Additionally, Nike is ...