What is the status with Footlocker Inc. I am looking to buy some shares but I am not sure?

CUWu answered 6 months ago …

The looks strong but I'd be careful, it's beginning to approach its resistance level ($14 per share) and is already beginning to reverse. The US retail market looks weak and will probably remain weak throughout the year as consumers take a "wait and see" approach to this economy. Furthermore, Foot Locker is seeing increased competition from online retailers such as Zappo's which are undoubtedly affecting its sales (and will likely continue to chip away at their margins in the years to come).

The company's same store sales and sales per square foot (2 key metrics in the retail space) are continuing to decline. I wouldn't short the stock but I don't think I'd be a buyer right here either.