Foot Locker Inc is a leading global retailer specializing in athletic footwear and apparel
The company operates a wide range of stores, including its flagship Foot Locker brand, as well as Champs Sports, Eastbay, and Footaction, catering to diverse customer preferences. Foot Locker offers an extensive selection of products from top athletic brands, and its stores are designed to create an engaging shopping experience for sports enthusiasts and casual shoppers alike. With a strong emphasis on community involvement and promoting an active lifestyle, Foot Locker also maintains a robust online presence, providing customers with convenient access to the latest trends in sports fashion.
Shares of footwear and apparel retailer Foot Locker (NYSEFL)
jumped 10.3% in the morning session after the company put up a decent fourth-quarter 2024 result, beating expectations on earnings and gross margins. But sales took a hit, and the outlook for the full year came in a bit light. Revenue was down about 6%, though part of that was tied to a calendar shift, as the previous year had an extra week. On the bright side, comparable sales grew.
Moving to the bottom line, the company managed to keep costs in check while benefiting from better pricing on merchandise and steady occupancy expenses. That helped earnings exceed estimates.
That said, the full-year guidance wasn't as optimistic. Management signaled only modest sales growth and slight margin expansion, which likely indicated some lingering challenges in the retail space. Overall, this was a mixed yet decent quarter.
Footwear and apparel retailer Foot Locker (NYSEFL) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 5.7% year on year to $2.25 billion. Its non-GAAP profit of $0.86 per share was 19.7% above analysts’ consensus estimates.
The three major indices were mostly flat in midday trading Wednesday with the S&P 500 and Nasdaq slightly under the flatline and the Dow Jones up 39 points.
Specialty athletic retailer Foot Locker reported a fourth-quarter sales decline of 5.8% to $2.243 billion, missing the consensus. Adjusted EPS of $0.86 beat the analyst consensus of $0.72.
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Shares of footwear and apparel retailer Foot Locker (NYSEFL)
fell 7.3% in the pre-market session after the major indices tumbled (Nasdaq down 1.9%, S&P 500 down 1.7%), marking a volatile ending to an otherwise good year for stocks. This marks the second straight day of broad-based declines with similar downturns (Nasdaq down 1.5%, S&P 500 down 1.1%) recorded on the previous trading day, Friday, December 27, 2024. This suggests that perhaps investors are locking in gains and positioning portfolios for 2025.
Over the last six months, Foot Locker’s shares have sunk to $22.41, producing a disappointing 15.9% loss - a stark contrast to the S&P 500’s 9.3% gain. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
